683 Capital Management LLC Lowers Stake in Alibaba Group Holding Limited (NYSE:BABA)

683 Capital Management LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the specialty retailer's stock after selling 14,500 shares during the quarter. 683 Capital Management LLC's holdings in Alibaba Group were worth $2,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BABA. Rings Capital Management LLC increased its position in Alibaba Group by 1.4% in the fourth quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer's stock worth $602,000 after buying an additional 100 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of Alibaba Group by 3.7% during the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer's stock valued at $240,000 after acquiring an additional 101 shares during the period. Global Endowment Management LP grew its stake in shares of Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer's stock valued at $642,000 after acquiring an additional 106 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer's stock worth $266,000 after acquiring an additional 108 shares in the last quarter. Finally, TBH Global Asset Management LLC raised its stake in Alibaba Group by 2.4% during the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer's stock worth $407,000 after acquiring an additional 112 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Up 1.3 %

Shares of Alibaba Group stock traded up $1.66 on Tuesday, reaching $128.23. The company had a trading volume of 11,669,245 shares, compared to its average volume of 20,522,186. The firm's 50-day moving average price is $124.91 and its two-hundred day moving average price is $105.53. Alibaba Group Holding Limited has a 1 year low of $71.80 and a 1 year high of $148.43. The firm has a market cap of $306.20 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

Alibaba Group (NYSE:BABA - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share 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 the consensus estimate of $38.19 billion. As a group, research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent analyst reports. Citigroup decreased their price objective 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. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Finally, Barclays increased their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Alibaba Group presently has an average rating of "Buy" and an average price target of $150.36.

Alibaba Group Company 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.