Norges Bank Makes New Investment in Alibaba Group Holding Limited (NYSE:BABA)

Norges Bank acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,905,047 shares of the specialty retailer's stock, valued at approximately $585,479,000. Norges Bank owned about 0.29% of Alibaba Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BABA. Lindbrook Capital LLC lifted its position in Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after acquiring an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after purchasing an additional 108 shares during the last quarter. TRUE Private Wealth Advisors boosted its position in shares of Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer's stock valued at $331,000 after purchasing an additional 112 shares during the period. TBH Global Asset Management LLC grew its stake in Alibaba Group by 2.4% during the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock worth $407,000 after buying an additional 112 shares during the last quarter. Finally, Xponance Inc. increased its position in Alibaba Group by 4.5% during the fourth quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer's stock worth $230,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BABA. Bank of America increased their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Citigroup lifted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Barclays upped their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Benchmark upped their price objective on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and a consensus price target of $148.14.

Alibaba Group Price Performance

Shares of BABA traded up $1.48 on Tuesday, reaching $133.71. The stock had a trading volume of 4,654,231 shares, compared to its average volume of 19,372,771. The firm has a 50-day moving average of $122.54 and a 200 day moving average of $103.03. The firm has a market capitalization of $317.69 billion, a PE ratio of 19.37, a PEG ratio of 0.61 and a beta of 0.28. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $148.43. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The firm had revenue of $38.38 billion during the quarter, compared to analysts' expectations of $38.19 billion. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current 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.