Advisory Services Network LLC Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Advisory Services Network LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,649 shares of the specialty retailer's stock after selling 9,608 shares during the period. Advisory Services Network LLC's holdings in Alibaba Group were worth $1,666,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alibaba Group during the fourth quarter valued at $585,479,000. Renaissance Technologies LLC increased its stake in Alibaba Group by 208.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. Appaloosa LP raised its holdings 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 buying an additional 1,843,158 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Alibaba Group by 92.7% during the fourth quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock valued at $97,308,000 after buying an additional 552,010 shares during the last quarter. Finally, WT Asset Management Ltd raised its holdings in Alibaba Group by 364.4% in the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer's stock worth $53,774,000 after acquiring an additional 497,623 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BABA. Citigroup reduced their price target on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Robert W. Baird increased their price target on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, Benchmark upped their price objective on Alibaba Group from $118.00 to $190.00 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 company's stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Price Performance

NYSE BABA traded down $3.96 during mid-day trading on Wednesday, hitting $108.32. The stock had a trading volume of 8,321,970 shares, compared to its average volume of 30,104,984. The firm's 50 day moving average is $127.13 and its 200 day moving average is $104.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $257.29 billion, a price-to-earnings ratio of 15.65, 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.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly 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). 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. Equities research analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal 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.