Sierra Summit Advisors LLC Buys Shares of 76,444 Alibaba Group Holding Limited (NYSE:BABA)

Sierra Summit Advisors LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,444 shares of the specialty retailer's stock, valued at approximately $6,482,000.

Several other hedge funds have also modified their holdings of BABA. Decker Retirement Planning Inc. purchased a new position in Alibaba Group in the fourth quarter worth about $31,000. Sierra Ocean LLC bought a new stake in shares of Alibaba Group in the 4th quarter valued at approximately $32,000. Vision Financial Markets LLC purchased a new position in shares of Alibaba Group in the 4th quarter worth approximately $55,000. Kieckhefer Group LLC bought a new position in shares of Alibaba Group during the 4th quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in Alibaba Group during the 4th quarter valued at $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 1.0 %

Shares of Alibaba Group stock traded up $1.01 during trading on Thursday, hitting $105.79. 24,656,309 shares of the stock traded hands, compared to its average volume of 20,315,216. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $148.43. The stock's fifty day simple moving average is $126.38 and its 200 day simple moving average is $104.51. The firm has a market cap of $251.28 billion, a P/E ratio of 15.30, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly 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 business had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Mizuho lifted their price target on shares of Alibaba Group from $140.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Benchmark increased their price target on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Fifteen 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 stock presently has an average rating of "Buy" and an average target price of $150.36.

Alibaba Group Company 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.