Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,993,617 shares of the specialty retailer's stock after selling 123,157 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.08% of Alibaba Group worth $211,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 154.1% in the 1st quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer's stock valued at $4,052,000 after buying an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer's stock worth $12,275,000 after purchasing an additional 139,134 shares during the period. SRN Advisors LLC grew its stake in shares of Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer's stock worth $1,611,000 after purchasing an additional 9,663 shares during the period. ORG Partners LLC increased its holdings in shares of Alibaba Group by 52,685.7% in the 1st quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer's stock valued at $813,000 after purchasing an additional 11,064 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer's stock valued at $87,327,000 after purchasing an additional 50,000 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BABA shares. Robert W. Baird boosted their price target on Alibaba Group from $85.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, August 16th. Loop Capital reiterated a "buy" rating and set a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Susquehanna dropped their price target on Alibaba Group from $135.00 to $130.00 and set a "positive" rating for the company in a research report on Monday, August 19th. Truist Financial cut their price target on Alibaba Group from $110.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $100.00 to $108.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $112.63.

Alibaba Group Trading Up 2.4 %

Shares of Alibaba Group stock traded up $2.36 during trading hours on Friday, reaching $102.43. 20,824,610 shares of the company's stock were exchanged, compared to its average volume of 17,930,746. The firm has a market capitalization of $259.92 billion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82. The company has a fifty day moving average of $92.30 and a 200-day moving average of $82.31.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period last year, the company earned $2.47 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.