Clear Street Derivatives LLC Takes $46.69 Million Position in Alibaba Group Holding Limited (NYSE:BABA)

Clear Street Derivatives LLC purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 550,653 shares of the specialty retailer's stock, valued at approximately $46,690,000. Alibaba Group accounts for about 0.6% of Clear Street Derivatives LLC's investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. Foundations Investment Advisors LLC raised its stake in shares of Alibaba Group by 21.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer's stock valued at $13,180,000 after acquiring an additional 27,088 shares during the last quarter. Berkshire Asset Management LLC PA purchased a new position in shares of Alibaba Group in the 4th quarter valued at approximately $911,000. Exchange Traded Concepts LLC grew its stake in Alibaba Group by 131.2% in the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer's stock worth $6,343,000 after purchasing an additional 42,446 shares during the period. Bailard Inc. raised its holdings in Alibaba Group by 46.3% in the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer's stock worth $869,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in Alibaba Group by 31.3% during the fourth quarter. Park Avenue Securities LLC now owns 18,465 shares of the specialty retailer's stock valued at $1,566,000 after buying an additional 4,397 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Benchmark raised their price objective on Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Morgan Stanley upgraded Alibaba Group from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $100.00 to $180.00 in a report on Monday, February 24th. Finally, StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Fourteen investment analysts have rated the stock with a buy rating and two have issued 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 price target of $150.36.

Alibaba Group Trading Down 3.5 %

Shares of NYSE:BABA opened at $123.20 on Thursday. Alibaba Group Holding Limited has a 12-month low of $71.80 and a 12-month high of $148.43. The company has a market cap of $294.19 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The stock has a 50 day moving average of $124.55 and a 200 day moving average of $105.81. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

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

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.

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