Guinness Atkinson Asset Management Inc Sells 1,100 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Guinness Atkinson Asset Management Inc trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 14.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,620 shares of the specialty retailer’s stock after selling 1,100 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Alibaba Group were worth $561,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. raised its stake in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the period. FMR LLC boosted its holdings in shares of Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BABA. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price on the stock in a research note on Monday, October 7th. StockNews.com lowered Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Bank of America upped their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Barclays decreased their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Finally, Mizuho upped their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Price Performance

Alibaba Group stock opened at $85.16 on Monday. The business has a 50-day simple moving average of $86.06 and a 200 day simple moving average of $87.78. Alibaba Group Holding Limited has a 52 week low of $66.63 and a 52 week high of $117.82. The stock has a market cap of $202.93 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.40 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The company had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. During the same period in the prior year, the business earned $1.82 earnings per share. Alibaba Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Alibaba Group Holding Limited will post 8.44 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.