Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 402,508 shares of the specialty retailer's stock after selling 72,127 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Alibaba Group were worth $34,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of BABA. Norges Bank purchased a new position in shares of Alibaba Group during the 4th quarter worth about $585,479,000. Appaloosa LP lifted its stake 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 purchasing an additional 1,843,158 shares during the last quarter. WT Asset Management Ltd grew its stake in shares of Alibaba Group by 364.4% during the fourth quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer's stock valued at $53,774,000 after buying an additional 497,623 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Alibaba Group in the fourth quarter worth approximately $42,175,000. Finally, Contrarius Group Holdings Ltd bought a new stake in shares of Alibaba Group during the 4th quarter worth approximately $33,820,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 6.5 %

Shares of NYSE:BABA traded up $7.01 during trading on Monday, reaching $114.74. The stock had a trading volume of 26,515,579 shares, compared to its average volume of 20,560,593. 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 market capitalization of $272.53 billion, a P/E ratio of 16.58, a PEG ratio of 0.61 and a beta of 0.24. The firm's 50-day simple moving average is $126.59 and its 200 day simple moving average is $104.64. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $148.43.

Remove Ads

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings results 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 during the quarter, compared to analysts' expectations of $38.19 billion. As a group, research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird upped their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised 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. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Citigroup reduced their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Finally, Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $100.00 to $180.00 in a report on Monday, February 24th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Alibaba Group has an average rating of "Buy" and a consensus price target of $150.36.

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.