Norden Group LLC Invests $4.11 Million in Alibaba Group Holding Limited (NYSE:BABA)

Norden Group LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 48,499 shares of the specialty retailer’s stock, valued at approximately $4,112,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Decker Retirement Planning Inc. bought a new stake in Alibaba Group in the fourth quarter valued at about $31,000. Sierra Ocean LLC bought a new stake in Alibaba Group in the fourth quarter valued at about $32,000. Assetmark Inc. increased its holdings 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 buying an additional 275 shares during the last quarter. Kieckhefer Group LLC bought a new stake in Alibaba Group in the fourth quarter valued at about $55,000. Finally, Golden State Wealth Management LLC acquired a new position in Alibaba Group in the fourth quarter valued at approximately $60,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BABA. Citigroup lifted their target price on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Bank of America lifted their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Robert W. Baird lifted their target price on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $132.45 on Friday. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $145.30. The stock has a market cap of $314.70 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 0.61 and a beta of 0.31. The stock’s 50 day moving average price is $100.36 and its 200 day moving average price is $94.88. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48.

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

Alibaba Group 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.