QRG Capital Management Inc. Purchases 4,519 Shares of Alibaba Group Holding Limited (NYSE:BABA)

QRG Capital Management Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,843 shares of the specialty retailer’s stock after purchasing an additional 4,519 shares during the quarter. QRG Capital Management Inc.’s holdings in Alibaba Group were worth $3,548,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings 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 valued at $409,385,000 after buying an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. boosted its position in shares of Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after acquiring an additional 3,448,152 shares during the period. FMR LLC grew its stake in shares of Alibaba Group by 454.2% in the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares during the last quarter. Aspex Management HK Ltd bought a new position in Alibaba Group during the third quarter worth $115,995,000. Finally, Bank of Montreal Can acquired a new position in Alibaba Group during the 3rd quarter valued at $63,929,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Trading Down 3.0 %

Shares of Alibaba Group stock opened at $132.45 on Friday. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $145.30. The stock has a market capitalization of $314.70 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31. The company has a 50-day simple moving average of $100.36 and a 200 day simple moving average of $94.88. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BABA shares. Barclays raised their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Benchmark boosted their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $180.00 in a research report on Monday, February 24th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. raised their target price on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alibaba Group 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.