Trek Financial LLC Purchases 10,713 Shares of Alibaba Group Holding Limited $BABA

Trek Financial LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,364 shares of the specialty retailer’s stock after purchasing an additional 10,713 shares during the period. Trek Financial LLC’s holdings in Alibaba Group were worth $10,148,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Alibaba Group by 4.3% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 29,045 shares of the specialty retailer’s stock valued at $3,124,000 after buying an additional 1,200 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Alibaba Group in the third quarter valued at approximately $12,327,000. Vise Technologies Inc. grew its position in Alibaba Group by 19.2% in the third quarter. Vise Technologies Inc. now owns 94,041 shares of the specialty retailer’s stock worth $10,113,000 after acquiring an additional 15,154 shares in the last quarter. Summit Global Investments bought a new stake in Alibaba Group in the third quarter worth approximately $379,000. Finally, Canopy Partners LLC increased its stake in shares of Alibaba Group by 8.6% during the 3rd quarter. Canopy Partners LLC now owns 2,271 shares of the specialty retailer’s stock worth $244,000 after purchasing an additional 179 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Weiss Ratings raised Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. HSBC set a $170.00 price objective on Alibaba Group in a research report on Thursday, July 9th. Citigroup increased their price target on shares of Alibaba Group from $190.00 to $193.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Jefferies Financial Group reissued a “buy” rating and set a $192.00 target price on shares of Alibaba Group in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $165.00 price target on shares of Alibaba Group in a research note on Monday, September 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus target price of $182.89.

Alibaba Group Stock Performance

Alibaba Group stock opened at $98.08 on Monday. Alibaba Group Holding Limited has a 52-week low of $91.99 and a 52-week high of $181.10. The firm has a market capitalization of $244.00 billion, a P/E ratio of 23.75, a P/E/G ratio of 1.28 and a beta of 0.47. The stock has a fifty day moving average price of $109.66 and a two-hundred day moving average price of $126.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.36 and a quick ratio of 1.36.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, August 14th. The specialty retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.68). The business had revenue of $39.64 billion for the quarter, compared to the consensus estimate of $39.52 billion. Alibaba Group had a return on equity of 4.79% and a net margin of 7.00%. Alibaba Group’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $14.75 EPS. As a group, analysts anticipate that Alibaba Group Holding Limited will post 5.76 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Siying Yu sold 6,764 shares of the company’s stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $13.58, for a total value of $91,855.12. Following the completion of the sale, the general counsel owned 613,965 shares in the company, valued at approximately $8,337,644.70. This represents a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph Tsai bought 720,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was bought at an average cost of $14.29 per share, for a total transaction of $10,288,800.00. Following the purchase, the director directly owned 114,979,168 shares of the company’s stock, valued at approximately $1,643,052,310.72. This trade represents a 0.63% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 999,971 shares of company stock worth $13,563,304. Corporate insiders own 12.50% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.