FinTrust Capital Advisors LLC raised its position in Alibaba Group Holding Ltd (NYSE:BABA) by 2,508.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,287 shares of the specialty retailer’s stock after acquiring an additional 8,931 shares during the quarter. FinTrust Capital Advisors LLC’s holdings in Alibaba Group were worth $2,003,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp grew its position in Alibaba Group by 1.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,790,790 shares of the specialty retailer’s stock valued at $386,273,000 after acquiring an additional 23,226 shares in the last quarter. Hayek Kallen Investment Management purchased a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $272,000. Ninety One UK Ltd boosted its stake in shares of Alibaba Group by 4.2% during the 2nd quarter. Ninety One UK Ltd now owns 8,127,139 shares of the specialty retailer’s stock valued at $1,753,024,000 after buying an additional 328,388 shares during the last quarter. Ninety One SA PTY Ltd boosted its stake in shares of Alibaba Group by 12.6% during the 2nd quarter. Ninety One SA PTY Ltd now owns 465 shares of the specialty retailer’s stock valued at $100,000 after buying an additional 52 shares during the last quarter. Finally, Garde Capital Inc. purchased a new position in shares of Alibaba Group during the 2nd quarter valued at approximately $222,000. 46.02% of the stock is owned by institutional investors.
Several research firms have recently commented on BABA. National Securities began coverage on Alibaba Group in a research note on Monday, July 20th. They set a “buy” rating and a $290.00 target price for the company. Argus increased their target price on Alibaba Group from $260.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Needham & Company LLC reiterated a “buy” rating and set a $275.00 target price on shares of Alibaba Group in a research note on Friday, August 21st. SunTrust Banks restated a “buy” rating and set a $250.00 price objective on shares of Alibaba Group in a research note on Sunday, May 24th. Finally, Robert W. Baird raised their price objective on Alibaba Group from $230.00 to $275.00 in a research note on Thursday, July 16th. Three research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alibaba Group currently has a consensus rating of “Buy” and a consensus price target of $269.99.
Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $13.28. The firm had revenue of $153.75 billion for the quarter, compared to analyst estimates of $147.30 billion. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. Alibaba Group’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the company earned $12.55 earnings per share. On average, equities research analysts expect that Alibaba Group Holding Ltd will post 7.48 EPS for the current year.
About Alibaba Group
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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