Nicholas Hoffman & Company LLC. Acquires New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Nicholas Hoffman & Company LLC. bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,109 shares of the specialty retailer’s stock, valued at approximately $370,000.

Several other large investors have also recently bought and sold shares of the stock. DAVENPORT & Co LLC boosted its stake in Alibaba Group by 16.9% during the third quarter. DAVENPORT & Co LLC now owns 6,550 shares of the specialty retailer’s stock valued at $568,000 after buying an additional 945 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Alibaba Group by 61.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,689 shares of the specialty retailer’s stock valued at $1,274,000 after purchasing an additional 5,594 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Alibaba Group by 12.8% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 4,086 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 465 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Alibaba Group by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 8,842 shares of the specialty retailer’s stock worth $767,000 after purchasing an additional 584 shares in the last quarter. Finally, Clarius Group LLC acquired a new stake in Alibaba Group during the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 2.0 %

Shares of NYSE:BABA traded down $1.55 during trading on Tuesday, reaching $74.86. 12,840,668 shares of the company traded hands, compared to its average volume of 17,863,781. The firm has a fifty day simple moving average of $73.28 and a 200 day simple moving average of $75.21. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $102.50. The firm has a market cap of $189.94 billion, a P/E ratio of 13.81 and a beta of 0.47.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same period in the previous year, the business posted $2.44 EPS. Alibaba Group’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts anticipate that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent research reports. Benchmark restated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, April 10th. Robert W. Baird decreased their price target on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. Citigroup cut their price objective on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their target price on shares of Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.91.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.