Baker Avenue Asset Management LP Raises Position in Alibaba Group Holding Limited (NYSE:BABA)

Baker Avenue Asset Management LP increased its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 124,117 shares of the specialty retailer's stock after acquiring an additional 6,377 shares during the quarter. Baker Avenue Asset Management LP's holdings in Alibaba Group were worth $10,524,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Sanford C. Bernstein raised 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 report on Tuesday, February 25th. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Barclays raised their target price on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Mizuho raised shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, April 18th. Finally, Robert W. Baird lifted their price target on Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alibaba Group presently has a consensus rating of "Buy" and a consensus price target of $150.36.

Alibaba Group Trading Up 0.9 %

NYSE:BABA traded up $1.18 during trading hours on Tuesday, reaching $127.75. 17,391,271 shares of the company were exchanged, compared to its average volume of 20,580,415. The firm has a market cap of $305.04 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 0.61 and a beta of 0.24. The stock has a 50 day simple moving average of $124.91 and a 200 day simple moving average of $105.53. Alibaba Group Holding Limited has a 52-week low of $71.80 and a 52-week high of $148.43. 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 released its quarterly earnings data 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 firm had revenue of $38.38 billion during the quarter, compared to analysts' expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

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.