Belpointe Asset Management LLC Acquires 7,737 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Belpointe Asset Management LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 79.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,430 shares of the specialty retailer's stock after buying an additional 7,737 shares during the period. Belpointe Asset Management LLC's holdings in Alibaba Group were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Alibaba Group in the 4th quarter worth $585,479,000. Renaissance Technologies LLC lifted its stake in shares of Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after buying an additional 2,024,640 shares during the period. Appaloosa LP grew its position in Alibaba Group by 18.4% during 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 in the last quarter. Bank of Montreal Can raised its holdings in Alibaba Group by 92.7% in the 4th quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock valued at $97,308,000 after acquiring an additional 552,010 shares in the last quarter. Finally, WT Asset Management Ltd lifted its position in shares of 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 period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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Alibaba Group Price Performance

Shares of Alibaba Group stock traded down $5.23 during midday trading on Wednesday, reaching $107.05. The company had a trading volume of 17,986,694 shares, compared to its average volume of 20,587,484. 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 stock has a fifty day simple moving average of $127.13 and a 200 day simple moving average of $104.74. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43. The company has a market capitalization of $254.27 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS 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 analyst estimates of $38.19 billion. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BABA. Mizuho boosted their price objective on Alibaba Group from $140.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, March 28th. Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. 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. Finally, StockNews.com upgraded Alibaba Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Fifteen equities research 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, the company 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.