Alibaba Group Holding Limited $BABA Stock Acquired by Vise Technologies Inc.

Vise Technologies Inc. increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,041 shares of the specialty retailer’s stock after buying an additional 15,154 shares during the period. Vise Technologies Inc.’s holdings in Alibaba Group were worth $10,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Global Investments bought a new position in Alibaba Group during the third quarter worth about $379,000. Canopy Partners LLC raised its stake in Alibaba Group by 8.6% in the third quarter. Canopy Partners LLC now owns 2,271 shares of the specialty retailer’s stock valued at $244,000 after buying an additional 179 shares during the period. Partners Wealth Management LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $567,000. Soltis Investment Advisors LLC bought a new stake in Alibaba Group in the third quarter valued at approximately $246,000. Finally, Founders Financial Securities LLC lifted its position in shares of Alibaba Group by 13.9% in the third quarter. Founders Financial Securities LLC now owns 2,538 shares of the specialty retailer’s stock valued at $273,000 after buying an additional 310 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BABA shares. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Piper Sandler downgraded Alibaba Group to a “hold” rating in a report on Thursday, October 8th. HSBC set a $170.00 price objective on shares of Alibaba Group in a research report on Thursday, July 9th. Benchmark reiterated a “buy” rating on shares of Alibaba Group in a report on Thursday, August 20th. Finally, Susquehanna upped their price objective on shares of Alibaba Group from $185.00 to $190.00 and gave the company a “positive” rating in a report on Friday, August 28th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.89.

Insider Activity

In other news, Director Joseph Tsai acquired 720,000 shares of the stock in a transaction on Monday, August 24th. The shares were purchased at an average price of $14.29 per share, for a total transaction of $10,288,800.00. Following the transaction, the director directly owned 114,979,168 shares of the company’s stock, valued at approximately $1,643,052,310.72. This represents a 0.63% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Siying Yu sold 6,764 shares of Alibaba Group stock in a transaction on Friday, September 25th. The stock was sold at an average price of $13.58, for a total value of $91,855.12. Following the sale, the general counsel directly owned 613,965 shares of the company’s stock, valued at $8,337,644.70. This represents a 1.09% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 999,971 shares of company stock worth $13,563,304. Corporate insiders own 12.50% of the company’s stock.

Alibaba Group Trading Up 0.0%

Shares of BABA stock opened at $98.08 on Monday. Alibaba Group Holding Limited has a 12-month low of $91.99 and a 12-month high of $181.10. The company has a market capitalization of $244.00 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 1.28 and a beta of 0.47. The firm has a 50 day moving average price of $109.66 and a two-hundred day moving average price of $126.60. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.21.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, August 14th. The specialty retailer reported $1.26 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.68). The firm had revenue of $39.64 billion during the quarter, compared to analyst estimates of $39.52 billion. Alibaba Group had a net margin of 7.00% and a return on equity of 4.79%. Alibaba Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $14.75 EPS. As a group, analysts predict that Alibaba Group Holding Limited will post 5.76 earnings per share for the current year.

Alibaba Group Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.