Alibaba Group Holding Limited (NYSE:BABA) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC lifted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 584.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 158,102 shares of the specialty retailer’s stock after buying an additional 135,019 shares during the quarter. Fred Alger Management LLC’s holdings in Alibaba Group were worth $13,405,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group in the 4th quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in shares of Alibaba Group during the fourth quarter worth about $32,000. Strategic Investment Solutions Inc. IL increased its holdings in shares of Alibaba Group by 59.0% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 200 shares during the period. Redwood Park Advisors LLC bought a new stake in Alibaba Group in the 4th quarter valued at about $52,000. Finally, Kieckhefer Group LLC acquired a new position in Alibaba Group during the 4th quarter valued at about $55,000. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BABA shares. Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Mizuho raised Alibaba Group to a “strong-buy” rating in a research note on Friday, April 18th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Robert W. Baird increased their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Citigroup dropped their price target on shares of Alibaba Group from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $150.36.

Alibaba Group Trading Up 2.2 %

Shares of BABA opened at $125.90 on Friday. 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 Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43. The stock has a market capitalization of $300.63 billion, a P/E ratio of 18.19, a P/E/G ratio of 0.61 and a beta of 0.24. The business’s 50-day moving average price is $124.45 and its 200 day moving average price is $105.98.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) 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 firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. 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.