Alibaba Group Holding Limited $BABA Stock Position Boosted by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Alibaba stake by 36.6% in the third quarter, adding 8,712 shares to hold 32,525 shares valued at about $3.5 million.
• Alibaba reported quarterly EPS of $1.26, below the $1.94 consensus estimate, while revenue of $39.64 billion topped forecasts and rose 8.6% year over year.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $182.89; shares opened at $109.24.

CenterBook Partners LP boosted its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 36.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,525 shares of the specialty retailer's stock after buying an additional 8,712 shares during the quarter. CenterBook Partners LP's holdings in Alibaba Group were worth $3,498,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Accredited Investors Inc. raised its holdings in Alibaba Group by 2.9% during the first quarter. Accredited Investors Inc. now owns 2,858 shares of the specialty retailer's stock worth $359,000 after acquiring an additional 80 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in Alibaba Group by 0.3% in the 2nd quarter. Angeles Wealth Management LLC now owns 30,421 shares of the specialty retailer's stock valued at $2,952,000 after purchasing an additional 100 shares during the last quarter. Hardin Capital Partners LLC grew its holdings in Alibaba Group by 1.5% during the second quarter. Hardin Capital Partners LLC now owns 6,945 shares of the specialty retailer's stock worth $670,000 after purchasing an additional 104 shares during the period. Magnus Financial Group LLC grew its holdings in Alibaba Group by 1.0% during the third quarter. Magnus Financial Group LLC now owns 10,851 shares of the specialty retailer's stock worth $1,167,000 after purchasing an additional 105 shares during the period. Finally, Wealth Alliance LLC grew its holdings in Alibaba Group by 1.3% during the first quarter. Wealth Alliance LLC now owns 8,510 shares of the specialty retailer's stock worth $1,068,000 after purchasing an additional 108 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $109.24 on Friday. Alibaba Group Holding Limited has a twelve month low of $91.99 and a twelve month high of $181.10. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.21. The company has a 50-day simple moving average of $108.28 and a two-hundred day simple moving average of $125.04. The stock has a market capitalization of $271.76 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.42 and a beta of 0.44.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The specialty retailer reported $1.26 earnings per share (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 net margin of 7.00% and a return on equity of 4.79%. Alibaba Group's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $14.75 EPS. Analysts forecast that Alibaba Group Holding Limited will post 5.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BABA. Weiss Ratings raised Alibaba Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Thursday, August 20th. Robert W. Baird reduced their target price on Alibaba Group from $164.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, August 21st. Citigroup boosted their target price on Alibaba Group from $190.00 to $193.00 and gave the stock a "buy" rating in a report on Thursday, October 8th. Finally, Barclays boosted their target price on Alibaba Group from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $182.89.

Insider Buying and Selling at Alibaba Group

In other news, CEO Yongming Wu bought 350,000 shares of the firm's stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $14.24 per share, with a total value of $4,984,000.00. Following the transaction, the chief executive officer owned 1,364,418 shares of the company's stock, valued at $19,429,312.32. This trade represents a 34.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Siying Yu sold 6,764 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $13.58, for a total transaction of $91,855.12. Following the transaction, the general counsel owned 613,965 shares of the company's stock, valued at approximately $8,337,644.70. The trade was a 1.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 999,971 shares of company stock worth $13,563,304. Company insiders own 12.50% of the company's stock.

About Alibaba Group

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates digital platforms that connect consumers, merchants, businesses and other participants in commerce.

Its businesses include China-focused marketplaces such as Taobao and Tmall, international platforms including AliExpress and Alibaba.com, and Alibaba Cloud, which provides cloud computing and related technology services. The group also has operations in areas such as logistics, local services and digital media.

Alibaba serves customers and businesses in China and across international markets.

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