Westerly Capital Management LLC Reduces Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Westerly Capital Management LLC decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 20.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,000 shares of the specialty retailer's stock after selling 10,000 shares during the period. Alibaba Group comprises approximately 1.6% of Westerly Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Westerly Capital Management LLC's holdings in Alibaba Group were worth $3,392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. Norges Bank acquired a new position in Alibaba Group during the 4th quarter valued at approximately $585,479,000. Renaissance Technologies LLC raised its stake in 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 last quarter. Appaloosa LP raised its stake in shares of Alibaba Group by 18.4% in the fourth 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 during the last quarter. Bank of Montreal Can lifted its position in 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 valued at $97,308,000 after purchasing an additional 552,010 shares during the period. Finally, WT Asset Management Ltd raised its position in shares of Alibaba Group by 364.4% in the fourth quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer's stock worth $53,774,000 after acquiring an additional 497,623 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $5.33 during trading hours on Friday, reaching $125.86. The stock had a trading volume of 18,023,694 shares, compared to its average volume of 20,593,902. The firm has a market cap of $300.77 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 0.61 and a beta of 0.24. 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 firm has a 50-day moving average of $125.33 and a 200-day moving average of $105.14. Alibaba Group Holding Limited has a fifty-two week low of $71.80 and a fifty-two week 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 for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The business had revenue of $38.38 billion during the quarter, compared to analysts' expectations of $38.19 billion. Equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research analyst reports. Mizuho raised Alibaba Group to a "strong-buy" rating in a report on Friday, April 18th. Barclays raised their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Robert W. Baird increased their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. raised their target price 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. Finally, Citigroup dropped their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. 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 company presently has a consensus rating of "Buy" and a consensus target price of $150.36.

Alibaba Group Company 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.