Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by HighMark Wealth Management LLC

HighMark Wealth Management LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 61.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 660 shares of the specialty retailer’s stock after selling 1,063 shares during the quarter. HighMark Wealth Management LLC’s holdings in Alibaba Group were worth $56,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position in Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after buying an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alibaba Group by 3,180.1% in the 3rd 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 valued at $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. boosted its stake in Alibaba Group by 64.1% during the 3rd 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 period. FMR LLC increased its stake in Alibaba Group by 454.2% in the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after purchasing an additional 2,959,954 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Alibaba Group by 9,205.2% in the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BABA. Barclays dropped their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Citigroup upped their price target on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Mizuho lifted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Finally, Robert W. Baird lifted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.86.

Alibaba Group Stock Performance

NYSE BABA opened at $124.73 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $296.71 billion, a P/E ratio of 25.30, a PEG ratio of 0.42 and a beta of 0.31. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $126.80. The business has a 50 day moving average price of $91.25 and a 200 day moving average price of $91.20.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $13.19. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group Company 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.