City State Bank Sells 1,744 Shares of Alibaba Group Holding Limited (NYSE:BABA)

City State Bank decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 23.5% during the 4th quarter, Holdings Channel reports. The firm owned 5,678 shares of the specialty retailer’s stock after selling 1,744 shares during the quarter. City State Bank’s holdings in Alibaba Group were worth $481,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in shares of Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $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 raised its position in Alibaba Group by 3,180.1% in 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 worth $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in 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 buying an additional 3,448,152 shares in the last quarter. FMR LLC boosted its position in Alibaba Group by 454.2% in the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after buying an additional 1,679,117 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

Alibaba Group stock traded up $0.27 during mid-day trading on Monday, reaching $80.80. 3,626,866 shares of the company were exchanged, compared to its average volume of 10,821,382. The company has a fifty day simple moving average of $87.59 and a 200-day simple moving average of $87.54. The firm has a market cap of $192.54 billion, a PE ratio of 16.39, a PEG ratio of 0.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82.

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 business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BABA. 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 note on Wednesday, October 9th. Benchmark reiterated a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 14th. Macquarie raised shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Finally, Robert W. Baird upped their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.13.

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.