Hexagon Capital Partners LLC lifted its position in Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 219.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 6,697 shares of the specialty retailer’s stock after purchasing an additional 4,601 shares during the period. Hexagon Capital Partners LLC’s holdings in Alibaba Group were worth $729,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Widmann Financial Services Inc. bought a new position in Alibaba Group in the 4th quarter worth about $27,000. Chilton Capital Management LLC bought a new position in shares of Alibaba Group in the fourth quarter worth approximately $28,000. Global Wealth Management Investment Advisory Inc. raised its stake in Alibaba Group by 74.1% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 235 shares of the specialty retailer’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Consolidated Planning Corp bought a new stake in Alibaba Group during the third quarter valued at approximately $30,000. Finally, Addison Advisors LLC increased its holdings in shares of Alibaba Group by 50.0% in the 4th quarter. Addison Advisors LLC now owns 255 shares of the specialty retailer’s stock worth $30,000 after buying an additional 85 shares during the last quarter. Institutional investors own 17.39% of the company’s stock.
BABA has been the subject of several research reports. Bank of America cut their target price on shares of Alibaba Group from $203.00 to $193.00 and set a “buy” rating for the company in a research report on Friday, February 25th. Barclays cut their price objective on Alibaba Group from $170.00 to $161.00 and set an “overweight” rating for the company in a report on Friday, May 27th. Benchmark decreased their price objective on Alibaba Group from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, May 27th. The Goldman Sachs Group assumed coverage on Alibaba Group in a research note on Sunday, April 10th. They issued a “buy” rating and a $185.00 target price for the company. Finally, UBS Group decreased their price target on shares of Alibaba Group from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.49.
Alibaba Group (NYSE:BABA – Get Rating) last posted its earnings results on Thursday, May 26th. The specialty retailer reported $1.45 EPS for the quarter, topping the consensus estimate of $0.67 by $0.78. Alibaba Group had a net margin of 6.35% and a return on equity of 11.17%. The firm had revenue of $204.05 billion during the quarter, compared to analysts’ expectations of $199.43 billion. During the same period last year, the company posted $1.10 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Alibaba Group Holding Limited will post 6.34 earnings per share for the current year.
Alibaba Group Profile (Get Rating)
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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