Clark Capital Management Group Inc. Has $40.19 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Clark Capital Management Group Inc. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 474,003 shares of the specialty retailer's stock after selling 29,127 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Alibaba Group were worth $40,191,000 as of its most recent SEC filing.

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

Alibaba Group Trading Down 0.4 %

Shares of NYSE BABA traded down $0.47 during midday trading on Friday, reaching $125.32. The stock had a trading volume of 11,134,886 shares, compared to its average volume of 20,629,545. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. 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's 50 day moving average price is $124.36 and its 200 day moving average price is $106.15. Alibaba Group Holding Limited has a twelve month low of $71.80 and a twelve month high of $148.43.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The business 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%. As a group, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein upgraded 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 research note on Tuesday, February 25th. StockNews.com upgraded Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Robert W. Baird increased their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Citigroup decreased their target price 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. Finally, JPMorgan Chase & Co. increased their price objective 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. Fourteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $150.36.

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.