Eqis Capital Management Inc. Sells 407 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Eqis Capital Management Inc. reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.9% during the third quarter, Holdings Channel reports. The fund owned 2,738 shares of the specialty retailer’s stock after selling 407 shares during the period. Eqis Capital Management Inc.’s holdings in Alibaba Group were worth $805,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BABA. FMR LLC grew its holdings in shares of Alibaba Group by 22.7% in the second quarter. FMR LLC now owns 29,139,029 shares of the specialty retailer’s stock worth $6,285,287,000 after purchasing an additional 5,388,891 shares during the last quarter. Morgan Stanley grew its holdings in shares of Alibaba Group by 31.9% in the first quarter. Morgan Stanley now owns 18,356,646 shares of the specialty retailer’s stock worth $3,569,998,000 after purchasing an additional 4,443,526 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Alibaba Group by 32.0% in the second quarter. Canada Pension Plan Investment Board now owns 16,916,032 shares of the specialty retailer’s stock worth $3,648,788,000 after purchasing an additional 4,102,571 shares during the last quarter. FIL Ltd grew its holdings in shares of Alibaba Group by 0.7% in the second quarter. FIL Ltd now owns 16,427,489 shares of the specialty retailer’s stock worth $3,543,411,000 after purchasing an additional 118,274 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alibaba Group by 2.2% in the second quarter. Fisher Asset Management LLC now owns 13,549,626 shares of the specialty retailer’s stock worth $2,922,654,000 after purchasing an additional 285,277 shares during the last quarter. Institutional investors and hedge funds own 37.36% of the company’s stock.

BABA has been the topic of several recent analyst reports. Loop Capital raised their target price on shares of Alibaba Group from $280.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $330.00 price target on shares of Alibaba Group in a research note on Tuesday, October 27th. KeyCorp raised their price target on Alibaba Group from $330.00 to $355.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. UBS Group raised their price target on Alibaba Group from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Finally, Royal Bank of Canada raised their price target on Alibaba Group from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Friday, November 6th. Three equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $306.96.

NYSE BABA opened at $270.74 on Friday. The stock’s 50 day moving average is $293.34 and its 200 day moving average is $255.38. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.12. Alibaba Group Holding Limited has a 12 month low of $169.95 and a 12 month high of $319.32. The stock has a market cap of $732.52 billion, a PE ratio of 38.84, a P/E/G ratio of 1.62 and a beta of 1.28.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, November 5th. The specialty retailer reported $17.97 EPS for the quarter, topping the Zacks’ consensus estimate of $1.69 by $16.28. Alibaba Group had a return on equity of 12.74% and a net margin of 22.56%. The company had revenue of $155.06 billion for the quarter, compared to analysts’ expectations of $155 billion. During the same period in the previous year, the firm earned $13.10 EPS. The firm’s revenue was up 30.3% compared to the same quarter last year. On average, analysts forecast that Alibaba Group Holding Limited will post 7.88 EPS for the current fiscal year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, provides online and mobile commerce businesses in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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