Coastline Trust Co grew its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 15.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,490 shares of the specialty retailer’s stock after buying an additional 850 shares during the period. Coastline Trust Co’s holdings in Alibaba Group were worth $1,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of Alibaba Group by 1.8% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,492 shares of the specialty retailer’s stock valued at $1,027,000 after buying an additional 62 shares during the last quarter. Acorn Financial Advisory Services Inc. ADV purchased a new position in shares of Alibaba Group during the 3rd quarter valued at $5,036,000. Vigilare Wealth Management lifted its holdings in Alibaba Group by 5.6% during the 3rd quarter. Vigilare Wealth Management now owns 1,990 shares of the specialty retailer’s stock worth $585,000 after purchasing an additional 105 shares in the last quarter. Strategic Investment Advisors MI purchased a new stake in Alibaba Group during the 3rd quarter worth about $229,000. Finally, Winfield Associates Inc. purchased a new stake in Alibaba Group during the 3rd quarter worth about $697,000. 46.02% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BABA opened at $307.31 on Friday. Alibaba Group Holding Ltd has a fifty-two week low of $168.12 and a fifty-two week high of $310.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50 day simple moving average of $283.76 and a two-hundred day simple moving average of $239.24. The stock has a market cap of $831.47 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share for the quarter, topping the consensus estimate of $1.54 by $13.28. Alibaba Group had a return on equity of 14.13% and a net margin of 31.96%. The business had revenue of $153.75 billion during the quarter, compared to analysts’ expectations of $147.30 billion. During the same quarter last year, the business posted $12.55 EPS. The business’s revenue was up 33.8% on a year-over-year basis. Sell-side analysts predict that Alibaba Group Holding Ltd will post 7.57 earnings per share for the current year.

A number of brokerages recently issued reports on BABA. Mizuho increased their price objective on Alibaba Group from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, October 1st. 140166 increased their price objective on Alibaba Group from $275.00 to $350.00 in a report on Monday, August 24th. Goldman Sachs Group increased their price objective on Alibaba Group from $315.00 to $350.00 in a report on Tuesday, October 6th. Nomura reissued a “buy” rating and set a $309.00 price objective on shares of Alibaba Group in a report on Sunday, August 23rd. Finally, Loop Capital upped their target price on Alibaba Group from $280.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Three research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Alibaba Group has a consensus rating of “Buy” and an average target price of $295.09.

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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