5,176 Shares in Alibaba Group Holding Limited (NYSE:BABA) Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,176 shares of the specialty retailer's stock, valued at approximately $439,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its holdings in Alibaba Group by 21.1% in the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer's stock valued at $13,180,000 after buying an additional 27,088 shares during the period. Berkshire Asset Management LLC PA bought a new stake in shares of Alibaba Group during the 4th quarter valued at about $911,000. Exchange Traded Concepts LLC grew its stake in Alibaba Group by 131.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer's stock worth $6,343,000 after purchasing an additional 42,446 shares during the period. Bailard Inc. grew its stake in Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after purchasing an additional 3,242 shares during the period. Finally, Park Avenue Securities LLC increased its holdings in Alibaba Group by 31.3% in the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer's stock worth $1,566,000 after purchasing an additional 4,397 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BABA shares. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Arete Research raised shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Barclays increased their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Finally, StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Fourteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $150.36.

Alibaba Group Trading Down 0.4 %

NYSE:BABA opened at $125.32 on Friday. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The firm has a 50-day moving average price of $124.36 and a two-hundred day moving average price of $106.15. The firm has a market cap of $299.25 billion, a price-to-earnings ratio of 18.11, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal 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.

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