Sierra Summit Advisors LLC Invests $6.48 Million in Alibaba Group Holding Limited (NYSE:BABA)

Sierra Summit Advisors LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 76,444 shares of the specialty retailer’s stock, valued at approximately $6,482,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its stake in shares of Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after purchasing an additional 108 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Alibaba Group by 2.4% during the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer’s stock worth $407,000 after purchasing an additional 112 shares during the period. Xponance Inc. raised its position in shares of Alibaba Group by 4.5% during the fourth quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer’s stock valued at $230,000 after buying an additional 116 shares during the last quarter. Finally, Ashton Thomas Securities LLC grew its position in Alibaba Group by 4.0% during the fourth quarter. Ashton Thomas Securities LLC now owns 3,193 shares of the specialty retailer’s stock worth $271,000 after buying an additional 122 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on BABA. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup lifted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $180.00 in a research note on Monday, February 24th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $148.14.

Alibaba Group Stock Performance

Alibaba Group stock opened at $116.56 on Monday. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $148.43. The stock has a 50-day simple moving average of $125.77 and a 200 day simple moving average of $104.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $276.85 billion, a price-to-earnings ratio of 16.84, a P/E/G ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, research analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share 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.