Mirae Asset Global Investments Co. Ltd. Purchases 59,154 Shares of Alibaba Group Holding Limited $BABA

Mirae Asset Global Investments Co. Ltd. increased its position in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 14.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 464,181 shares of the specialty retailer’s stock after acquiring an additional 59,154 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Alibaba Group were worth $68,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrant Private Wealth Management LLC lifted its position in Alibaba Group by 1.3% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 11,308 shares of the specialty retailer’s stock valued at $1,658,000 after purchasing an additional 145 shares during the period. PDS Planning Inc grew its position in shares of Alibaba Group by 4.2% during the 4th quarter. PDS Planning Inc now owns 7,986 shares of the specialty retailer’s stock worth $1,171,000 after buying an additional 319 shares during the period. Forteris Wealth Management Inc. acquired a new stake in shares of Alibaba Group during the 4th quarter worth approximately $749,000. Nations Financial Group Inc. IA ADV raised its stake in shares of Alibaba Group by 61.9% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 50,123 shares of the specialty retailer’s stock worth $7,347,000 after buying an additional 19,169 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Alibaba Group by 20.2% during the fourth quarter. CWM LLC now owns 12,183 shares of the specialty retailer’s stock worth $1,786,000 after buying an additional 2,049 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group News Roundup

Here are the key news stories impacting Alibaba Group this week:

Alibaba Group Stock Up 4.0%

Alibaba Group stock opened at $138.65 on Friday. The firm has a market capitalization of $331.02 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 2.40 and a beta of 0.50. The company’s 50 day simple moving average is $137.98 and its 200 day simple moving average is $154.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.33 and a quick ratio of 1.33. Alibaba Group Holding Limited has a fifty-two week low of $103.71 and a fifty-two week high of $192.67.

Alibaba Group (NYSE:BABAGet Free Report) last posted its earnings results on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share for the quarter. The company had revenue of $40.71 billion for the quarter. Alibaba Group had a net margin of 9.12% and a return on equity of 7.43%. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Erste Group Bank cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 18th. Robert W. Baird dropped their target price on shares of Alibaba Group from $174.00 to $164.00 and set an “outperform” rating for the company in a research report on Friday, March 20th. Arete Research raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Wednesday, January 21st. Jefferies Financial Group reduced their price target on Alibaba Group from $225.00 to $212.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Finally, Argus raised Alibaba Group to a “hold” rating in a research note on Tuesday, March 24th. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.68.

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Alibaba Group Company Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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

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