Concurrent Investment Advisors LLC Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

Concurrent Investment Advisors LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,488 shares of the specialty retailer’s stock after selling 1,531 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alibaba Group were worth $550,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of BABA. AMF Tjanstepension AB grew its stake in Alibaba Group by 6.9% in the third quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer’s stock worth $296,062,000 after purchasing an additional 178,999 shares in the last quarter. Modera Wealth Management LLC acquired a new position in Alibaba Group in the third quarter worth about $225,000. DekaBank Deutsche Girozentrale grew its stake in Alibaba Group by 86.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 71,870 shares of the specialty retailer’s stock worth $7,996,000 after purchasing an additional 33,410 shares in the last quarter. Kercheville Advisors LLC acquired a new position in Alibaba Group in the third quarter worth about $271,000. Finally, Baker Tilly Wealth Management LLC acquired a new position in Alibaba Group in the third quarter worth about $296,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $180.00 in a research note on Monday. Mizuho lifted their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird lifted their target price on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Benchmark lifted their target price on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $138.36.

Alibaba Group Stock Performance

BABA opened at $128.87 on Tuesday. The business’s 50 day moving average is $96.29 and its 200-day moving average is $93.43. The stock has a market cap of $306.18 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $145.30.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results 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). The business 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 12.90%. On average, analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

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.