CANADA LIFE ASSURANCE Co lessened its position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 260,343 shares of the specialty retailer’s stock after selling 5,901 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Alibaba Group were worth $22,063,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in shares of Alibaba Group by 7.8% in the fourth quarter. Canada Pension Plan Investment Board now owns 620,000 shares of the specialty retailer’s stock valued at $52,570,000 after purchasing an additional 45,000 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its stake in shares of Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. Global Endowment Management LP grew its stake in Alibaba Group by 1.4% during the 4th quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock worth $642,000 after purchasing an additional 106 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Alibaba Group by 4.6% during the 4th quarter. NewEdge Advisors LLC now owns 75,935 shares of the specialty retailer’s stock worth $6,439,000 after purchasing an additional 3,343 shares during the period. Finally, Stonehaven Wealth & Tax Solutions LLC acquired a new stake in Alibaba Group in the 4th quarter valued at about $260,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Alibaba Group Price Performance
Alibaba Group stock opened at $109.03 on Friday. The business has a 50 day simple moving average of $127.07 and a 200-day simple moving average of $104.68. Alibaba Group Holding Limited has a 12 month low of $69.12 and a 12 month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $260.55 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24.
Analysts Set New Price Targets
Several research firms have recently issued reports on BABA. Mizuho upped their price objective on Alibaba Group from $140.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, March 28th. Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Bank of America increased their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Barclays upped their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Citigroup reduced their target price on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Fifteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $150.36.
View Our Latest Analysis on BABA
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.
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