Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Slate Path Capital LP

Slate Path Capital LP lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 24.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,466,100 shares of the specialty retailer's stock after selling 463,200 shares during the period. Alibaba Group accounts for approximately 2.3% of Slate Path Capital LP's holdings, making the stock its 19th biggest position. Slate Path Capital LP owned 0.06% of Alibaba Group worth $124,311,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Alibaba Group during the fourth quarter worth approximately $585,479,000. Renaissance Technologies LLC increased its position in shares of 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 during the last quarter. Appaloosa LP raised its holdings in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the period. Bank of Montreal Can lifted its position in Alibaba Group by 92.7% in the fourth quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock worth $97,308,000 after buying an additional 552,010 shares during the last quarter. Finally, WT Asset Management Ltd boosted its stake in Alibaba Group by 364.4% during the fourth quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer's stock worth $53,774,000 after buying an additional 497,623 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

NYSE:BABA traded up $3.04 during midday trading on Wednesday, reaching $118.92. The stock had a trading volume of 25,692,652 shares, compared to its average volume of 20,741,086. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-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. The firm has a fifty day simple moving average of $126.71 and a two-hundred day simple moving average of $104.76. The stock has a market cap of $284.19 billion, a P/E ratio of 17.18, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Barclays increased their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Mizuho upgraded Alibaba Group to a "strong-buy" rating in a report on Friday, April 18th. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Citigroup lowered their target price 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. Fourteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average 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.