Putnam Investments LLC Has $75.90 Million Position in Alibaba Group Holding Ltd (BABA)

Putnam Investments LLC lessened its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 64.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 460,689 shares of the specialty retailer’s stock after selling 841,548 shares during the period. Putnam Investments LLC’s holdings in Alibaba Group were worth $75,904,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Honkamp Krueger Financial Services Inc. bought a new position in Alibaba Group during the 3rd quarter valued at approximately $107,000. AlphaMark Advisors LLC increased its position in Alibaba Group by 468.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 910 shares of the specialty retailer’s stock valued at $150,000 after buying an additional 750 shares in the last quarter. Avestar Capital LLC increased its position in Alibaba Group by 55.2% during the 3rd quarter. Avestar Capital LLC now owns 1,082 shares of the specialty retailer’s stock valued at $154,000 after buying an additional 385 shares in the last quarter. Columbia Asset Management bought a new position in Alibaba Group during the 3rd quarter valued at approximately $160,000. Finally, Mainstay Capital Management LLC ADV increased its position in Alibaba Group by 5,724.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 21,607 shares of the specialty retailer’s stock valued at $165,000 after buying an additional 21,236 shares in the last quarter. 38.68% of the stock is owned by institutional investors.

Several brokerages have commented on BABA. cut their target price on Alibaba Group to $196.00 and set a “buy” rating on the stock in a research note on Thursday, August 23rd. MKM Partners cut their target price on Alibaba Group to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, September 12th. Barclays cut their target price on Alibaba Group from $230.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, August 27th. Raymond James cut their target price on Alibaba Group from $280.00 to $260.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 10th. Finally, SunTrust Banks cut their target price on Alibaba Group from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $213.53.

BABA stock opened at $149.00 on Friday. The firm has a market capitalization of $381.61 billion, a PE ratio of 36.97, a PEG ratio of 1.37 and a beta of 2.37. Alibaba Group Holding Ltd has a 1 year low of $130.06 and a 1 year high of $211.70. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.26.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 2nd. The specialty retailer reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.51 billion. Alibaba Group had a return on equity of 12.99% and a net margin of 19.33%. The company’s revenue for the quarter was up 49.6% on a year-over-year basis. During the same period last year, the business posted $1.29 EPS. On average, equities research analysts expect that Alibaba Group Holding Ltd will post 3.48 earnings per share for the current fiscal year.

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

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