Monetta Financial Services Inc. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 270.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 37,000 shares of the specialty retailer’s stock after buying an additional 27,000 shares during the period. Alibaba Group Holding Limited makes up approximately 2.9% of Monetta Financial Services Inc.’s investment portfolio, making the stock its 12th largest position. Monetta Financial Services Inc.’s holdings in Alibaba Group Holding Limited were worth $5,213,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. bought a new position in Alibaba Group Holding Limited during the second quarter valued at about $102,000. Lee Financial Co boosted its position in Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock valued at $113,000 after buying an additional 250 shares in the last quarter. Winch Advisory Services LLC boosted its position in Alibaba Group Holding Limited by 147.4% in the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 482 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock valued at $131,000 after buying an additional 80 shares in the last quarter. Finally, West Oak Capital LLC boosted its position in Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock valued at $134,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 37.40% of the company’s stock.

Alibaba Group Holding Limited (NYSE BABA) opened at 171.74 on Friday. Alibaba Group Holding Limited has a 12-month low of $86.01 and a 12-month high of $177.00. The company has a 50 day moving average of $159.15 and a 200-day moving average of $129.07. The stock has a market capitalization of $436.73 billion, a price-to-earnings ratio of 58.28 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The company had revenue of $7.40 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same period in the prior year, the business earned $0.74 EPS. On average, equities research analysts forecast that Alibaba Group Holding Limited will post $5.05 earnings per share for the current year.

Alibaba Group Holding Limited announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

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Several research firms have issued reports on BABA. Vetr cut shares of Alibaba Group Holding Limited from a “buy” rating to a “hold” rating and set a $178.60 target price on the stock. in a research note on Tuesday, August 22nd. Needham & Company LLC upped their target price on shares of Alibaba Group Holding Limited from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Royal Bank Of Canada upped their target price on shares of Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. KeyCorp set a $182.00 target price on shares of Alibaba Group Holding Limited and gave the company an “overweight” rating in a research note on Friday, August 18th. Finally, Robert W. Baird upped their target price on shares of Alibaba Group Holding Limited from $170.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $168.76.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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