Clearbridge Investments LLC Buys 70,234 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Clearbridge Investments LLC increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 57.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,925 shares of the specialty retailer’s stock after buying an additional 70,234 shares during the period. Clearbridge Investments LLC’s holdings in Alibaba Group were worth $16,273,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BABA. Norges Bank bought a new position in shares of Alibaba Group in the 4th quarter worth approximately $585,479,000. Appaloosa LP lifted its position in Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the period. WT Asset Management Ltd boosted its holdings in shares of Alibaba Group by 364.4% during the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer’s stock valued at $53,774,000 after buying an additional 497,623 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Alibaba Group in the 4th quarter worth about $42,175,000. Finally, Janus Henderson Group PLC increased its stake in shares of Alibaba Group by 83.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,081,188 shares of the specialty retailer’s stock worth $114,757,000 after acquiring an additional 490,694 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Price Performance

NYSE BABA opened at $129.68 on Thursday. 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 Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43. The stock has a market capitalization of $308.02 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.61 and a beta of 0.24. The business’s fifty day moving average price is $124.35 and its 200-day moving average price is $103.55.

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). 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 during the quarter, compared to analysts’ expectations of $38.19 billion. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BABA. Mizuho upped their price objective on shares of Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, March 28th. Benchmark upped their price target on Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Barclays increased their target price on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Thursday. Fifteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average target price of $148.14.

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.