Oak Ridge Investments LLC Sells 227 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Oak Ridge Investments LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 3,288 shares of the specialty retailer’s stock after selling 227 shares during the period. Oak Ridge Investments LLC’s holdings in Alibaba Group were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Norges Bank bought a new stake in Alibaba Group during the fourth quarter worth about $5,713,083,000. Itau Unibanco Holding S.A. raised its stake in Alibaba Group by 25,325.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 6,693,471 shares of the specialty retailer’s stock valued at $11,245,000 after buying an additional 6,667,145 shares during the period. Credit Suisse AG raised its stake in Alibaba Group by 25.0% in the fourth quarter. Credit Suisse AG now owns 15,238,996 shares of the specialty retailer’s stock valued at $3,546,573,000 after buying an additional 3,043,637 shares during the period. Baillie Gifford & Co. raised its stake in Alibaba Group by 6.5% in the first quarter. Baillie Gifford & Co. now owns 26,692,992 shares of the specialty retailer’s stock valued at $6,052,102,000 after buying an additional 1,623,584 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Alibaba Group by 53.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,828,266 shares of the specialty retailer’s stock valued at $890,952,000 after buying an additional 1,328,086 shares during the period. Institutional investors and hedge funds own 33.10% of the company’s stock.

Several analysts have issued reports on BABA shares. Macquarie restated an “outperform” rating and issued a $407.00 price objective (down previously from $421.00) on shares of Alibaba Group in a research note on Friday, March 26th. TheStreet lowered Alibaba Group from a “b” rating to a “c+” rating in a research note on Friday, May 14th. Stifel Nicolaus lowered their target price on Alibaba Group from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Wednesday, May 12th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered their target price on Alibaba Group from $338.00 to $306.00 and set a “buy” rating on the stock in a research note on Friday, May 14th. Finally, Truist Securities lowered their target price on Alibaba Group from $315.00 to $290.00 and set a “buy” rating on the stock in a research note on Friday, May 14th. Two analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alibaba Group has an average rating of “Buy” and a consensus target price of $318.57.

Shares of BABA stock opened at $212.79 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $204.39 and a fifty-two week high of $319.32. The firm has a market cap of $575.73 billion, a P/E ratio of 26.24, a PEG ratio of 1.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.67 and a current ratio of 1.70. The firm has a fifty day simple moving average of $223.46.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Wednesday, May 12th. The specialty retailer reported $10.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $8.85. Alibaba Group had a return on equity of 12.95% and a net margin of 20.83%. The company had revenue of $187.40 billion during the quarter, compared to analysts’ expectations of $180.67 billion. During the same period in the prior year, the company earned $9.20 EPS. Alibaba Group’s revenue was up 63.9% compared to the same quarter last year. Analysts expect that Alibaba Group Holding Limited will post 9.73 EPS for the current fiscal year.

Alibaba Group Company Profile

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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