Fmr LLC Cuts Position in Alibaba Group Holding Limited (NYSE:BABA)

Fmr LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 64.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,270,182 shares of the specialty retailer’s stock after selling 2,341,389 shares during the quarter. Fmr LLC’s holdings in Alibaba Group were worth $107,699,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in Alibaba Group during the third quarter worth $287,000. Coldstream Capital Management Inc. purchased a new stake in shares of Alibaba Group in the 3rd quarter worth about $306,000. Virtu Financial LLC grew its stake in Alibaba Group by 1,033.1% in the 3rd quarter. Virtu Financial LLC now owns 134,686 shares of the specialty retailer’s stock valued at $14,293,000 after acquiring an additional 122,800 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Alibaba Group during the 3rd quarter valued at about $637,000. Finally, Pine Valley Investments Ltd Liability Co lifted its holdings in shares of Alibaba Group by 21.9% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 114,981 shares of the specialty retailer’s stock valued at $12,202,000 after purchasing an additional 20,654 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Citigroup reduced their price objective on Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Robert W. Baird boosted their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, Bank of America boosted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $150.36.

Alibaba Group Stock Up 5.9 %

BABA opened at $114.07 on Tuesday. The company has a market cap of $270.94 billion, a PE ratio of 16.48, 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 quick ratio of 1.48 and a current ratio of 1.48. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $148.43. The firm has a 50 day moving average price of $126.89 and a 200 day moving average price of $104.69.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (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 business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share 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.