Suffolk Capital Management LLC lessened its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,705 shares of the specialty retailer’s stock after selling 11,601 shares during the quarter. Suffolk Capital Management LLC’s holdings in Alibaba Group were worth $12,364,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BABA. Boussard & Gavaudan Investment Management LLP raised its stake in shares of Alibaba Group by 37.1% in the 3rd quarter. Boussard & Gavaudan Investment Management LLP now owns 11,598,897 shares of the specialty retailer’s stock valued at $1,986,697,000 after purchasing an additional 3,141,790 shares during the period. Egerton Capital UK LLP acquired a new stake in shares of Alibaba Group in the 3rd quarter valued at about $507,041,000. Third Point LLC raised its stake in shares of Alibaba Group by 46.7% in the 3rd quarter. Third Point LLC now owns 6,600,000 shares of the specialty retailer’s stock valued at $1,139,886,000 after purchasing an additional 2,100,000 shares during the period. Barings LLC raised its stake in shares of Alibaba Group by 7,117.7% in the 4th quarter. Barings LLC now owns 1,535,928 shares of the specialty retailer’s stock valued at $264,840,000 after purchasing an additional 1,514,648 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Alibaba Group by 51.3% in the 3rd quarter. Legal & General Group Plc now owns 3,462,294 shares of the specialty retailer’s stock valued at $597,897,000 after purchasing an additional 1,174,045 shares during the period. 37.76% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on BABA. Stifel Nicolaus lifted their price target on Alibaba Group from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Bank of America reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alibaba Group in a research report on Thursday, February 1st. Robert W. Baird lifted their target price on Alibaba Group to $220.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. MKM Partners lifted their target price on Alibaba Group to $260.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alibaba Group in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $211.22.
Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Thursday, February 1st. The specialty retailer reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.08). Alibaba Group had a return on equity of 17.61% and a net margin of 29.57%. The firm had revenue of $12.76 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. equities research analysts expect that Alibaba Group Holding Ltd will post 4.05 EPS for the current year.
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Alibaba Group Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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