Mystic Asset Management Inc. Has $1.34 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Mystic Asset Management Inc. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,802 shares of the specialty retailer’s stock after selling 300 shares during the period. Mystic Asset Management Inc.’s holdings in Alibaba Group were worth $1,340,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BABA. Principal Financial Group Inc. lifted its holdings in shares of Alibaba Group by 6.2% in the 3rd quarter. Principal Financial Group Inc. now owns 52,563 shares of the specialty retailer’s stock worth $5,578,000 after purchasing an additional 3,046 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 275 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Alibaba Group during the third quarter valued at about $762,000. OneDigital Investment Advisors LLC increased its position in shares of Alibaba Group by 49.8% during the third quarter. OneDigital Investment Advisors LLC now owns 11,689 shares of the specialty retailer’s stock worth $1,240,000 after acquiring an additional 3,885 shares in the last quarter. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Alibaba Group in the 3rd quarter worth about $221,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Sanford C. Bernstein raised Alibaba Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Bank of America increased their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Finally, Benchmark boosted their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Buy” and an average target price of $144.07.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $147.56 on Tuesday. The firm has a market cap of $350.60 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.28. The stock has a fifty day simple moving average of $111.98 and a two-hundred day simple moving average of $99.32. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.75.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm 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 anticipate 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.