Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 71.4% in the fourth quarter, Holdings Channel reports. The firm owned 13,873 shares of the specialty retailer’s stock after selling 34,651 shares during the period. Selective Wealth Management Inc.’s holdings in Alibaba Group were worth $1,133,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Generate Investment Management Ltd acquired a new position in shares of Alibaba Group during the 3rd quarter valued at $12,656,000. Nations Financial Group Inc. IA ADV boosted its position in shares of Alibaba Group by 63.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after buying an additional 11,192 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Alibaba Group by 6.5% in the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after buying an additional 50,000 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Alibaba Group by 7,734.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock worth $28,632,000 after acquiring an additional 266,361 shares in the last quarter. Finally, Aspex Management HK Ltd purchased a new position in Alibaba Group in the 3rd quarter worth approximately $115,995,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America raised their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price target on the stock in a report on Monday, October 7th. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 14th. Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, Benchmark reiterated a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Price Performance

NYSE BABA opened at $85.16 on Friday. The stock has a market capitalization of $202.93 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.40 and a beta of 0.30. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The business’s fifty day moving average is $86.24 and its two-hundred day moving average is $87.59.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion during the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 earnings per share. On average, research analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal 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.