Shell Asset Management Co. bought a new position in shares of Alibaba Group Holding Ltd (NYSE:BABA) in the 4th quarter, Holdings Channel reports. The institutional investor bought 374,126 shares of the specialty retailer’s stock, valued at approximately $64,511,000. Alibaba Group makes up 1.3% of Shell Asset Management Co.’s investment portfolio, making the stock its 5th biggest holding.
Several other institutional investors also recently bought and sold shares of the company. Ark Investment Management LLC grew its position in shares of Alibaba Group by 18.6% in the 2nd quarter. Ark Investment Management LLC now owns 55,464 shares of the specialty retailer’s stock valued at $7,815,000 after purchasing an additional 8,696 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of Alibaba Group in the 2nd quarter valued at approximately $23,878,000. Sit Investment Associates Inc. grew its position in shares of Alibaba Group by 6.8% in the 3rd quarter. Sit Investment Associates Inc. now owns 7,510 shares of the specialty retailer’s stock valued at $1,297,000 after purchasing an additional 475 shares during the period. Exane Derivatives acquired a new position in shares of Alibaba Group in the 3rd quarter valued at approximately $883,000. Finally, Baltimore Washington Financial Advisors Inc. grew its position in shares of Alibaba Group by 15.8% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 41,264 shares of the specialty retailer’s stock valued at $7,127,000 after purchasing an additional 5,618 shares during the period. Institutional investors own 37.88% of the company’s stock.
BABA has been the subject of several research analyst reports. BidaskClub lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 23rd. Vetr lowered Alibaba Group from a “strong-buy” rating to a “buy” rating and set a $197.98 price objective for the company. in a research report on Monday, October 30th. Barclays boosted their price objective on Alibaba Group from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, October 31st. Needham & Company LLC boosted their price objective on Alibaba Group from $190.00 to $215.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Robert W. Baird boosted their target price on Alibaba Group from $190.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. Alibaba Group presently has an average rating of “Buy” and a consensus target price of $211.14.
Alibaba Group (NYSE:BABA) last announced 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 company 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 company earned $1.30 EPS. research analysts forecast that Alibaba Group Holding Ltd will post 4.05 earnings per share for the current year.
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About Alibaba Group
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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