Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,566 shares of the specialty retailer’s stock after selling 217 shares during the quarter. Summit Global Investments’ holdings in Alibaba Group were worth $557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Decker Retirement Planning Inc. purchased a new position in shares of Alibaba Group in the fourth quarter worth about $31,000. Sierra Ocean LLC acquired a new stake in Alibaba Group in the 4th quarter valued at about $32,000. Kieckhefer Group LLC purchased a new position in Alibaba Group in the 4th quarter worth approximately $55,000. Vision Financial Markets LLC acquired a new position in shares of Alibaba Group during the 4th quarter worth approximately $55,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Robert W. Baird boosted their price target 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. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Barclays boosted their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Citigroup lifted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Price Performance

BABA stock opened at $134.58 on Tuesday. The business’s fifty day moving average price is $117.57 and its 200 day moving average price is $101.28. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month 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 company has a market capitalization of $319.76 billion, a PE ratio of 19.45, a P/E/G ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

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.