Legal & General Group Plc Reduces Stake in Alibaba Group Holding Limited (NYSE:BABA)

Legal & General Group Plc decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 573,924 shares of the specialty retailer's stock after selling 42,152 shares during the period. Legal & General Group Plc's holdings in Alibaba Group were worth $48,663,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lindbrook Capital LLC increased its stake in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after purchasing an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Alibaba Group by 3.6% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock valued at $266,000 after purchasing an additional 108 shares during the last quarter. TBH Global Asset Management LLC increased its position in Alibaba Group by 2.4% during the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock worth $407,000 after purchasing an additional 112 shares in the last quarter. Xponance Inc. increased its position in Alibaba Group by 4.5% during the 4th quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer's stock worth $230,000 after purchasing an additional 116 shares in the last quarter. Finally, Ashton Thomas Securities LLC lifted its stake in Alibaba Group by 4.0% in the 4th quarter. Ashton Thomas Securities LLC now owns 3,193 shares of the specialty retailer's stock valued at $271,000 after purchasing an additional 122 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

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Analysts Set New Price Targets

BABA has been the subject of several research reports. Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Barclays raised their price target 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. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $100.00 to $180.00 in a report on Monday, February 24th. Mizuho raised their target price on Alibaba Group from $140.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, March 28th. Finally, Robert W. Baird increased their price target on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Stock Down 3.7 %

Shares of Alibaba Group stock traded down $4.13 during trading on Wednesday, hitting $108.15. The company's stock had a trading volume of 7,618,961 shares, compared to its average volume of 20,536,101. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a fifty day simple moving average of $127.13 and a two-hundred day simple moving average of $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 $256.89 billion, a PE ratio of 15.64, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last issued 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 net margin of 12.29% and a return on equity of 12.89%. The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Alibaba Group Profile

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.