Naviter Wealth LLC Sells 355 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Naviter Wealth LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,904 shares of the specialty retailer’s stock after selling 355 shares during the period. Naviter Wealth LLC’s holdings in Alibaba Group were worth $3,977,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BABA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the last quarter. FMR LLC boosted its holdings in Alibaba Group by 454.2% during the third 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 during the last quarter. Aspex Management HK Ltd acquired a new position in Alibaba Group during the third quarter worth $115,995,000. Finally, Bank of Montreal Can acquired a new position in Alibaba Group during the third quarter worth $63,929,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $140.59 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $145.36. The firm has a market cap of $334.04 billion, a P/E ratio of 20.32, a P/E/G ratio of 0.61 and a beta of 0.31. The company’s 50-day moving average price is $105.46 and its two-hundred day moving average price is $96.70.

Alibaba Group (NYSE:BABA) last posted 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). 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 analyst estimates of $38.19 billion. On average, analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Bank of America increased their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Robert W. Baird increased their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Benchmark increased 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. Finally, Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $144.07.

Alibaba Group 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.