Transcend Capital Advisors LLC Trims Stock Position in Alibaba Group Holding Limited (NYSE:BABA)

Transcend Capital Advisors LLC lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,909 shares of the specialty retailer’s stock after selling 4,603 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Alibaba Group were worth $755,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group in the fourth quarter worth about $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group in the fourth quarter worth about $32,000. Highline Wealth Partners LLC purchased a new stake in Alibaba Group in the 3rd quarter worth approximately $36,000. Finally, Assetmark Inc. increased its holdings in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the subject of a number of analyst reports. StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Barclays increased their price target on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America increased their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.93.

Alibaba Group Trading Up 5.7 %

BABA stock opened at $143.67 on Friday. The firm has a fifty day moving average price of $95.43 and a 200 day moving average price of $92.99. Alibaba Group Holding Limited has a fifty-two week low of $68.36 and a fifty-two week high of $145.30. The firm has a market cap of $341.36 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 0.57 and a beta of 0.31. 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 posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.90% and a net margin of 12.29%. The business had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. Sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

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.