Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 15.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 402,508 shares of the specialty retailer’s stock after selling 72,127 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alibaba Group were worth $34,129,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BABA. Norges Bank bought a new stake in shares of Alibaba Group during the 4th quarter worth about $585,479,000. Appaloosa LP lifted its position in Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. WT Asset Management Ltd boosted its stake in Alibaba Group by 364.4% during the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer’s stock valued at $53,774,000 after purchasing an additional 497,623 shares in the last quarter. FengHe Fund Management Pte. Ltd. acquired a new position in Alibaba Group during the fourth quarter worth about $42,175,000. Finally, Contrarius Group Holdings Ltd acquired a new stake in Alibaba Group in the 4th quarter valued at about $33,820,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $107.89 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $256.26 billion, a PE ratio of 15.59, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $148.43. The firm’s 50 day moving average price is $126.59 and its 200 day moving average price is $104.64.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Benchmark lifted their price objective on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Robert W. Baird boosted their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Fifteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alibaba Group has an average rating of “Buy” and a consensus price target of $150.36.

Alibaba Group Company 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.