Clearbridge Investments LLC Buys 70,234 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Clearbridge Investments LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 57.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 191,925 shares of the specialty retailer’s stock after acquiring an additional 70,234 shares during the quarter. Clearbridge Investments LLC’s holdings in Alibaba Group were worth $16,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. purchased a new stake in shares of Alibaba Group in the fourth quarter worth $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the 4th quarter worth $32,000. Kieckhefer Group LLC bought a new stake in Alibaba Group during the fourth quarter valued at about $55,000. Vision Financial Markets LLC purchased a new position in shares of Alibaba Group in the fourth quarter valued at about $55,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Alibaba Group in the fourth quarter worth about $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Mizuho upped their target price on shares of Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Bank of America raised their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, 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 report on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Trading Down 2.3 %

BABA opened at $129.68 on Thursday. Alibaba Group Holding Limited has a 52 week low of $68.36 and a 52 week high of $148.43. The company has a market capitalization of $308.02 billion, a P/E ratio of 18.74, a PEG ratio of 0.61 and a beta of 0.24. The stock’s fifty day moving average is $124.35 and its two-hundred day moving average is $103.55. 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 (NYSE:BABA) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

About Alibaba Group

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.