Everstar Asset Management LLC Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Everstar Asset Management LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 44.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,248 shares of the specialty retailer’s stock after selling 4,908 shares during the quarter. Everstar Asset Management LLC’s holdings in Alibaba Group were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans purchased a new stake in shares of Alibaba Group in the third quarter worth about $321,000. The Manufacturers Life Insurance Company acquired a new position in Alibaba Group in the third quarter valued at approximately $287,000. FMR LLC boosted its position in Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Alibaba Group during the 3rd quarter worth approximately $518,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Alibaba Group by 2.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock valued at $1,523,000 after purchasing an additional 390 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 2.3 %

Shares of Alibaba Group stock opened at $132.49 on Monday. 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’s 50 day simple moving average is $121.60 and its 200-day simple moving average is $102.70. The stock has a market cap of $314.80 billion, a P/E ratio of 19.15, a P/E/G ratio of 0.61 and a beta of 0.28. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43.

Alibaba Group (NYSE:BABA) last issued its earnings results 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 net margin of 12.29% and a return on equity of 12.89%. The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on BABA. Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Citigroup lifted their price target on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. Finally, Benchmark lifted their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $148.14.

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.