Fred Alger Management LLC Boosts Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Fred Alger Management LLC boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 584.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 158,102 shares of the specialty retailer's stock after purchasing an additional 135,019 shares during the quarter. Fred Alger Management LLC's holdings in Alibaba Group were worth $13,405,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in BABA. Family Management Corp acquired a new position in Alibaba Group during the fourth quarter worth $460,000. Clear Street Derivatives LLC acquired a new stake in Alibaba Group in the 4th quarter worth about $46,690,000. Deutsche Bank AG boosted its holdings in Alibaba Group by 20.2% in the 4th quarter. Deutsche Bank AG now owns 417,289 shares of the specialty retailer's stock worth $35,382,000 after buying an additional 70,221 shares during the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Alibaba Group by 6.6% during the fourth quarter. Deprince Race & Zollo Inc. now owns 331,543 shares of the specialty retailer's stock valued at $28,112,000 after acquiring an additional 20,615 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Alibaba Group by 9.6% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 80,633 shares of the specialty retailer's stock valued at $6,837,000 after acquiring an additional 7,044 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 0.4 %

NYSE:BABA traded down $0.47 on Friday, reaching $125.32. The company's stock had a trading volume of 11,134,886 shares, compared to its average volume of 20,629,545. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43. The stock has a 50 day moving average price of $124.36 and a 200 day moving average price of $106.21. 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 quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

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

Wall Street Analysts Forecast Growth

BABA has been the subject of several recent research reports. Sanford C. Bernstein raised Alibaba Group from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. raised their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Mizuho upgraded shares of Alibaba Group to a "strong-buy" rating in a report on Friday, April 18th. Finally, Bank of America boosted their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Fourteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $150.36.

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.