Partners Wealth Management LLC Makes New $567,000 Investment in Alibaba Group Holding Limited $BABA

Key Points

• Partners Wealth Management initiated a $567,000 position in Alibaba during the third quarter by purchasing 5,271 shares. Other institutional investors also increased their holdings, with institutions collectively owning 13.47% of the company.
• Analyst sentiment remains broadly positive: Alibaba has an average “Moderate Buy” rating and a consensus price target of $182.89, although Piper Sandler downgraded the stock to “Hold.”
• Alibaba’s CEO Yongming Wu bought 350,000 shares worth nearly $5 million, while insiders sold roughly $13.6 million of stock over the past 90 days. The company’s latest quarterly revenue rose 8.6% year over year, but adjusted earnings missed analyst expectations.

Partners Wealth Management LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,271 shares of the specialty retailer's stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB grew its stake in Alibaba Group by 4.1% during the 1st quarter. AMF Tjanstepension AB now owns 2,206,634 shares of the specialty retailer's stock valued at $276,844,000 after purchasing an additional 86,613 shares during the last quarter. Baird Financial Group Inc. increased its holdings in shares of Alibaba Group by 6.7% in the second quarter. Baird Financial Group Inc. now owns 754,749 shares of the specialty retailer's stock valued at $72,441,000 after purchasing an additional 47,358 shares during the period. Sei Investments Co. raised its stake in shares of Alibaba Group by 63.5% in the first quarter. Sei Investments Co. now owns 573,409 shares of the specialty retailer's stock worth $71,940,000 after purchasing an additional 222,666 shares during the last quarter. Candriam S.C.A. raised its stake in shares of Alibaba Group by 104.6% in the first quarter. Candriam S.C.A. now owns 564,818 shares of the specialty retailer's stock worth $70,862,000 after purchasing an additional 288,738 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Alibaba Group by 19.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 534,794 shares of the specialty retailer's stock worth $67,095,000 after purchasing an additional 86,484 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BABA. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research report on Thursday, August 20th. Piper Sandler downgraded shares of Alibaba Group to a "hold" rating in a report on Thursday, October 8th. Weiss Ratings raised shares of Alibaba Group from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $165.00 price objective on shares of Alibaba Group in a research note on Monday, September 7th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $192.00 price objective on shares of Alibaba Group in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $182.89.

Insiders Place Their Bets

In other news, CEO Yongming Wu acquired 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, for a total transaction of $4,984,000.00. Following the completion of the transaction, the chief executive officer owned 1,364,418 shares in the company, valued at approximately $19,429,312.32. The trade was a 34.50% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Siying Yu sold 6,764 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $13.58, for a total transaction of $91,855.12. Following the sale, the general counsel directly owned 613,965 shares in the company, valued at approximately $8,337,644.70. The trade was a 1.09% decrease in their ownership of the stock. 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 90 days, insiders have sold 999,971 shares of company stock valued at $13,563,304. Insiders own 12.50% of the company's stock.

Alibaba Group Price Performance

NYSE:BABA opened at $98.08 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market cap of $244.00 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.47. The company has a 50 day moving average price of $109.66 and a 200-day moving average price of $126.60. Alibaba Group Holding Limited has a 1-year low of $91.99 and a 1-year high of $181.10.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its 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 firm had revenue of $39.64 billion during the quarter, compared to analyst estimates of $39.52 billion. Alibaba Group had a net margin of 7.00% and a return on equity of 4.79%. The business's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $14.75 earnings per share. Equities research analysts forecast that Alibaba Group Holding Limited will post 5.76 EPS for the current year.

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.

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