Harber Asset Management LLC Buys 21,268 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Harber Asset Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,732 shares of the specialty retailer's stock after purchasing an additional 21,268 shares during the period. Alibaba Group makes up 5.8% of Harber Asset Management LLC's holdings, making the stock its 2nd biggest position. Harber Asset Management LLC's holdings in Alibaba Group were worth $19,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC grew its stake in shares of Alibaba Group by 79.8% during the 4th quarter. Belpointe Asset Management LLC now owns 17,430 shares of the specialty retailer's stock worth $1,453,000 after purchasing an additional 7,737 shares during the period. CreativeOne Wealth LLC increased its holdings in Alibaba Group by 19.4% in the fourth quarter. CreativeOne Wealth LLC now owns 5,832 shares of the specialty retailer's stock valued at $495,000 after buying an additional 946 shares in the last quarter. Mariner LLC raised its position in shares of Alibaba Group by 9.9% in the fourth quarter. Mariner LLC now owns 77,046 shares of the specialty retailer's stock worth $6,533,000 after acquiring an additional 6,968 shares during the period. Savvy Advisors Inc. purchased a new stake in shares of Alibaba Group during the 4th quarter worth about $433,000. Finally, Synovus Financial Corp grew its position in shares of Alibaba Group by 3.9% during the 4th quarter. Synovus Financial Corp now owns 5,747 shares of the specialty retailer's stock valued at $487,000 after acquiring an additional 214 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup lowered their price target 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. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Barclays upped their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $150.36.

Alibaba Group Trading Down 1.5 %

NYSE:BABA traded down $1.66 during trading hours on Tuesday, hitting $112.31. The company had a trading volume of 15,586,952 shares, compared to its average volume of 20,585,270. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $148.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $126.89 and a 200 day moving average of $104.69. The company has a market cap of $266.77 billion, a P/E ratio of 16.23, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) 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 firm had revenue of $38.38 billion for 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.

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.