Allspring Global Investments Holdings LLC Sells 113,668 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Allspring Global Investments Holdings LLC reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,879,949 shares of the specialty retailer’s stock after selling 113,668 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alibaba Group were worth $159,702,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BABA. Concord Wealth Partners grew its holdings in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Highline Wealth Partners LLC bought a new position in shares of Alibaba Group during the 3rd quarter valued at approximately $36,000. Decker Retirement Planning Inc. bought a new stake in shares of Alibaba Group in the 4th quarter worth approximately $31,000. Assetmark Inc. lifted its stake in 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 purchasing an additional 275 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new position in Alibaba Group during the fourth quarter valued at $55,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Mizuho upped their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird raised their price target 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. Benchmark reaffirmed a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. Finally, Barclays reduced their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

Alibaba Group Trading Up 1.3 %

BABA stock opened at $112.78 on Wednesday. Alibaba Group Holding Limited has a one year low of $68.36 and a one year high of $117.82. The company has a market capitalization of $268.26 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.42 and a beta of 0.31. The company’s 50 day moving average price is $88.55 and its two-hundred day moving average price is $90.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. As a group, analysts predict 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.