Canada Pension Plan Investment Board grew its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 7.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 620,000 shares of the specialty retailer's stock after acquiring an additional 45,000 shares during the period. Canada Pension Plan Investment Board's holdings in Alibaba Group were worth $52,570,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Appaloosa LP raised its position in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Norges Bank purchased a new stake in shares of Alibaba Group during the fourth quarter valued at $585,479,000. Fisher Asset Management LLC lifted its position in Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after acquiring an additional 78,757 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. Finally, North of South Capital LLP increased its holdings in Alibaba Group by 17.9% in the 4th quarter. North of South Capital LLP now owns 1,975,760 shares of the specialty retailer's stock worth $167,525,000 after buying an additional 300,432 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
BABA has been the subject of several analyst reports. Sanford C. Bernstein raised Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Barclays upped their price target 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. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $100.00 to $180.00 in a report on Monday, February 24th. Bank of America raised their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Benchmark boosted their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $150.36.
View Our Latest Stock Analysis on BABA
Alibaba Group Stock Performance
Shares of BABA traded up $3.11 during mid-day trading on Wednesday, hitting $118.99. 18,664,295 shares of the company's stock were exchanged, compared to its average volume of 20,693,343. Alibaba Group Holding Limited has a fifty-two week low of $70.99 and a fifty-two week 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 business's 50 day moving average is $126.83 and its two-hundred day moving average is $104.67. The firm has a market capitalization of $284.35 billion, a P/E ratio of 17.20, a P/E/G 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 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 business had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.
Alibaba Group Profile
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Free Report)
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.
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