Clear Creek Financial Management LLC Invests $259,000 in Alibaba Group Holding Limited (NYSE:BABA)

Clear Creek Financial Management LLC bought a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,438 shares of the specialty retailer’s stock, valued at approximately $259,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BABA. First Command Advisory Services Inc. purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC boosted its holdings in Alibaba Group by 139.3% in the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Alibaba Group during the second quarter valued at about $27,000. Concord Wealth Partners increased its stake in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in shares of Alibaba Group in the 3rd quarter worth about $36,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on BABA shares. Loop Capital reiterated a “buy” rating and set a $115.00 target price on shares of Alibaba Group in a report on Thursday, August 29th. Bank of America increased their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Finally, Benchmark reissued a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.13.

Alibaba Group Price Performance

BABA stock opened at $98.40 on Tuesday. The company has a market capitalization of $235.67 billion, a PE ratio of 25.76, a P/E/G ratio of 0.46 and a beta of 0.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $95.95 and its two-hundred day moving average is $84.41. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $117.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.47 EPS. Analysts predict that Alibaba Group Holding Limited will post 8.08 earnings per share for the current fiscal year.

Alibaba Group Profile

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.