Allspring Global Investments Holdings LLC Has $159.70 Million Stake in Alibaba Group Holding Limited (NYSE:BABA)

Allspring Global Investments Holdings LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,879,949 shares of the specialty retailer’s stock after selling 113,668 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Alibaba Group worth $159,702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BABA. Assenagon Asset Management S.A. grew its position in shares of Alibaba Group by 1,392.6% in the 3rd 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alibaba Group by 3,180.1% during the third 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 period. Hhlr Advisors LTD. increased its position in Alibaba Group by 64.1% during the third 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 during the last quarter. FMR LLC lifted its position 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 valued at $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Up 1.3 %

Shares of BABA stock opened at $112.78 on Wednesday. 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 Holding Limited has a fifty-two week low of $68.36 and a fifty-two week high of $117.82. The company has a market cap of $268.26 billion, a PE ratio of 22.88, a P/E/G ratio of 0.42 and a beta of 0.31. The stock’s fifty day moving average price is $88.55 and its two-hundred day moving average price is $90.05.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 EPS. Equities analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Barclays decreased their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 19th. Robert W. Baird lifted their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup upped their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

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.