Family Management Corp Purchases New Stake in Alibaba Group Holding Limited (NYSE:BABA)

Family Management Corp purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,426 shares of the specialty retailer's stock, valued at approximately $460,000.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Alibaba Group during the 4th quarter worth about $585,479,000. Renaissance Technologies LLC raised its holdings in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after acquiring an additional 2,024,640 shares in the last quarter. Appaloosa LP boosted its position in Alibaba Group by 18.4% during 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. Bank of Montreal Can increased its stake in shares of Alibaba Group by 92.7% during the fourth quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock worth $97,308,000 after purchasing an additional 552,010 shares during the period. Finally, Clear Street Derivatives LLC acquired a new position in Alibaba Group in the 4th quarter valued at $46,690,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 0.4 %

NYSE BABA traded down $0.47 during trading hours on Friday, hitting $125.32. 11,134,886 shares of the company's stock were exchanged, compared to its average volume of 20,590,010. Alibaba Group Holding Limited has a 1-year low of $71.80 and a 1-year high of $148.43. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $124.36 and a 200 day simple moving average of $106.15. The firm has a market cap of $299.25 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, equities analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Morgan Stanley raised shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Bank of America lifted their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Barclays lifted their price target on Alibaba Group from $130.00 to $180.00 and gave the company 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 note on Friday, February 21st. Finally, JPMorgan Chase & Co. raised their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Fourteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average target price 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.