First Foundation Advisors boosted its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 19.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,914 shares of the specialty retailer’s stock after purchasing an additional 5,799 shares during the period. First Foundation Advisors’ holdings in Alibaba Group were worth $4,923,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in BABA. BlackRock Inc. grew its holdings in shares of Alibaba Group by 7.4% during the 4th quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock worth $9,284,230,000 after acquiring an additional 4,674,615 shares during the period. Federated Investors Inc. PA grew its holdings in shares of Alibaba Group by 449.8% during the 3rd quarter. Federated Investors Inc. PA now owns 3,691,425 shares of the specialty retailer’s stock worth $608,200,000 after acquiring an additional 3,020,054 shares during the period. Nordea Investment Management AB purchased a new position in shares of Alibaba Group during the 3rd quarter worth approximately $490,205,000. Canada Pension Plan Investment Board grew its holdings in shares of Alibaba Group by 60.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 6,051,568 shares of the specialty retailer’s stock worth $997,056,000 after acquiring an additional 2,282,727 shares during the period. Finally, Coatue Management LLC grew its holdings in shares of Alibaba Group by 70.5% during the 4th quarter. Coatue Management LLC now owns 5,348,736 shares of the specialty retailer’s stock worth $733,151,000 after acquiring an additional 2,212,159 shares during the period. Institutional investors own 39.66% of the company’s stock.
A number of research analysts have weighed in on the company. Argus reiterated a “buy” rating on shares of Alibaba Group in a report on Friday, February 1st. HSBC upped their target price on Alibaba Group from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, January 14th. Stifel Nicolaus reiterated a “buy” rating and set a $180.00 target price (up previously from $175.00) on shares of Alibaba Group in a report on Thursday, January 31st. KeyCorp set a $200.00 target price on Alibaba Group and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, ValuEngine upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Monday, November 26th. One analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $211.07.
Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Wednesday, January 30th. The specialty retailer reported $12.19 earnings per share for the quarter, topping the consensus estimate of $1.36 by $10.83. The company had revenue of $117.28 billion for the quarter, compared to the consensus estimate of $118.52 billion. Alibaba Group had a return on equity of 12.44% and a net margin of 19.87%. The firm’s quarterly revenue was up 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.63 EPS. On average, analysts expect that Alibaba Group Holding Ltd will post 3.65 EPS for the current fiscal year.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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