Bulltick Wealth Management LLC Sells 3,693 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Bulltick Wealth Management LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 41.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,153 shares of the specialty retailer's stock after selling 3,693 shares during the period. Bulltick Wealth Management LLC's holdings in Alibaba Group were worth $437,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BABA. Appaloosa LP grew its position in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the last quarter. Norges Bank bought a new stake in Alibaba Group in the 4th quarter valued at $585,479,000. Bank of America Corp DE grew its holdings in Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after buying an additional 438,537 shares in the last quarter. Fisher Asset Management LLC increased its position in Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after buying an additional 78,757 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Alibaba Group by 1.1% during the fourth quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock worth $337,377,000 after buying an additional 44,901 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Analysts Set New Price Targets

BABA has been the topic of several research reports. Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Sanford C. Bernstein raised shares of Alibaba Group from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Arete Research upgraded Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Finally, Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Fourteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $150.36.

Alibaba Group Trading Down 3.5 %

Shares of Alibaba Group stock traded down $4.46 on Wednesday, hitting $123.20. The stock had a trading volume of 15,961,567 shares, compared to its average volume of 20,586,367. The stock has a 50 day moving average of $124.73 and a 200 day moving average of $105.69. 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 Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43. The firm has a market capitalization of $294.19 billion, a P/E ratio of 17.80, a PEG ratio of 0.61 and a beta of 0.24.

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). The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal 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.