Legal & General Group Plc Sells 42,152 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Legal & General Group Plc trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 6.8% in the 4th quarter, Holdings Channel reports. The fund owned 573,924 shares of the specialty retailer’s stock after selling 42,152 shares during the quarter. Legal & General Group Plc’s holdings in Alibaba Group were worth $48,663,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Decker Retirement Planning Inc. purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $31,000. Sierra Ocean LLC bought a new position in Alibaba Group during the 4th quarter valued at approximately $32,000. Kieckhefer Group LLC purchased a new position in Alibaba Group during the fourth quarter valued at $55,000. Vision Financial Markets LLC bought a new stake in Alibaba Group in the fourth quarter worth $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Alibaba Group in the fourth quarter worth $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Bank of America upped their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Mizuho lifted their target price on Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $150.36.

Alibaba Group Trading Up 3.6 %

NYSE:BABA opened at $107.89 on Friday. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $148.43. The business has a fifty day moving average price of $126.59 and a 200-day moving average price of $104.64. The firm has a market capitalization of $256.26 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

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

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.