2,866 Shares in Alibaba Group Holding Limited (NYSE:BABA) Purchased by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,866 shares of the specialty retailer's stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Appaloosa LP boosted its stake in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after acquiring an additional 1,843,158 shares during the last quarter. Norges Bank bought a new position in shares of Alibaba Group during the fourth quarter worth about $585,479,000. Fisher Asset Management LLC grew its stake in Alibaba Group by 1.6% in the fourth 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 in the last quarter. North of South Capital LLP raised its stake in Alibaba Group by 17.9% during the fourth quarter. North of South Capital LLP now owns 1,975,760 shares of the specialty retailer's stock valued at $167,525,000 after buying an additional 300,432 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Alibaba Group by 5.0% during the 4th quarter. American Century Companies Inc. now owns 1,507,591 shares of the specialty retailer's stock worth $127,829,000 after buying an additional 72,140 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BABA. Citigroup reduced their price objective on Alibaba Group from $170.00 to $169.00 and set a "buy" rating on the stock in a research note on Tuesday. Robert W. Baird lifted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Morgan Stanley upgraded shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Finally, Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $150.36.

Alibaba Group Price Performance

Shares of BABA stock traded down $0.01 during midday trading on Thursday, reaching $104.77. 22,543,622 shares of the company were exchanged, compared to its average volume of 29,967,111. The company's 50 day moving average price is $126.38 and its two-hundred day moving average price is $104.51. 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 company has a market cap of $248.85 billion, a P/E ratio of 15.14, a PEG ratio of 0.61 and a beta of 0.24. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $148.43.

Alibaba Group (NYSE:BABA - Get Free Report) last announced 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 for 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, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.