Fullerton Fund Management Co Ltd. Buys New Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Fullerton Fund Management Co Ltd. bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 64,397 shares of the specialty retailer's stock, valued at approximately $5,460,000.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Alibaba Group in the 4th quarter worth $585,479,000. Renaissance Technologies LLC lifted its stake in shares of Alibaba Group by 208.5% in the 4th 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 during the period. Appaloosa LP lifted its stake in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after acquiring an additional 1,843,158 shares during the period. Bank of Montreal Can lifted its stake in shares of Alibaba Group by 92.7% in the 4th quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer's stock worth $97,308,000 after acquiring an additional 552,010 shares during the period. Finally, Clear Street Derivatives LLC acquired a new stake in shares of Alibaba Group in the 4th quarter worth $46,690,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $7.35 during midday trading on Monday, reaching $132.68. 22,523,055 shares of the company traded hands, compared to its average volume of 20,637,552. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a 50-day moving average price of $124.36 and a 200 day moving average price of $106.28. Alibaba Group Holding Limited has a 52 week low of $71.80 and a 52 week high of $148.43. The company has a market cap of $316.82 billion, a price-to-earnings ratio of 19.17, 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 (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BABA has been the subject of a number of research analyst reports. Benchmark increased their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Alibaba Group from $125.00 to $170.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. StockNews.com upgraded shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Barclays lifted their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Mizuho upgraded shares of Alibaba Group to a "strong-buy" rating in a research note on Friday, April 18th. Fourteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $150.36.

Alibaba Group 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.