Fortis Capital Advisors LLC Purchases Shares of 7,288 Alibaba Group Holding Limited (NYSE:BABA)

Fortis Capital Advisors LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,288 shares of the specialty retailer's stock, valued at approximately $607,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at $287,000. MML Investors Services LLC boosted its holdings in Alibaba Group by 5.0% in the third quarter. MML Investors Services LLC now owns 56,554 shares of the specialty retailer's stock worth $6,001,000 after acquiring an additional 2,703 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Alibaba Group in the 3rd quarter worth about $306,000. Virtu Financial LLC increased its stake in Alibaba Group by 1,033.1% in the 3rd quarter. Virtu Financial LLC now owns 134,686 shares of the specialty retailer's stock valued at $14,293,000 after buying an additional 122,800 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $637,000. Institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on BABA shares. Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Barclays raised their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Finally, Benchmark boosted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $150.36.

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Alibaba Group Stock Performance

NYSE BABA traded down $4.59 on Wednesday, hitting $107.69. 10,001,275 shares of the company traded hands, compared to its average volume of 20,545,005. 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 price is $127.13 and its 200-day moving average price is $104.74. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $148.43. The company has a market capitalization of $255.79 billion, a price-to-earnings ratio of 15.56, 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 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $38.19 billion. Equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.