Knuff & Co LLC Grows Position in Alibaba Group Holding Limited (NYSE:BABA)

Knuff & Co LLC increased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 10.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,554 shares of the specialty retailer’s stock after acquiring an additional 4,190 shares during the quarter. Alibaba Group makes up about 1.1% of Knuff & Co LLC’s investment portfolio, making the stock its 27th largest position. Knuff & Co LLC’s holdings in Alibaba Group were worth $3,280,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the second quarter valued at about $25,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in shares of Alibaba Group during the fourth quarter valued at about $26,000. Register Financial Advisors LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at about $31,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Alibaba Group during the fourth quarter valued at about $42,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Truist Financial cut their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Mizuho cut their price objective on shares of Alibaba Group from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.61.

Alibaba Group Stock Performance

Alibaba Group stock traded up $2.32 during mid-day trading on Monday, hitting $83.34. The company had a trading volume of 20,027,300 shares, compared to its average volume of 16,674,639. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $96.68. The company has a market capitalization of $211.48 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 0.42 and a beta of 0.32. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company’s fifty day moving average is $78.00 and its 200-day moving average is $76.64.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same quarter last year, the firm posted $2.47 EPS. The business’s revenue was up 3.9% on a year-over-year basis. Equities research analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

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.