Harbour Investments Inc. Sells 899 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Harbour Investments Inc. reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,554 shares of the specialty retailer’s stock after selling 899 shares during the quarter. Harbour Investments Inc.’s holdings in Alibaba Group were worth $217,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its position in shares of Alibaba Group by 21.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 155,440 shares of the specialty retailer’s stock valued at $13,180,000 after purchasing an additional 27,088 shares in the last quarter. Berkshire Asset Management LLC PA bought a new stake in shares of Alibaba Group during the fourth quarter valued at approximately $911,000. Exchange Traded Concepts LLC boosted its position in shares of Alibaba Group by 131.2% during the fourth quarter. Exchange Traded Concepts LLC now owns 74,807 shares of the specialty retailer’s stock valued at $6,343,000 after purchasing an additional 42,446 shares in the last quarter. Bailard Inc. boosted its position in shares of Alibaba Group by 46.3% during the fourth quarter. Bailard Inc. now owns 10,245 shares of the specialty retailer’s stock valued at $869,000 after purchasing an additional 3,242 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Alibaba Group by 7,734.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 1.3 %

Alibaba Group stock opened at $135.16 on Friday. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $148.43. The company has a market cap of $321.14 billion, a P/E ratio of 19.53, a P/E/G ratio of 0.61 and a beta of 0.27. 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 business has a 50-day simple moving average of $116.49 and a two-hundred day simple moving average of $100.66.

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 the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research reports. Arete Research upgraded Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $104.00 to $165.00 in a research note on Tuesday, February 25th. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Citigroup lifted 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. Finally, Benchmark lifted their price objective on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alibaba Group presently has a consensus rating of “Buy” and an average target price of $144.07.

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.