Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Aviva PLC

Aviva PLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA) by 10.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 415,116 shares of the specialty retailer’s stock after selling 47,249 shares during the period. Aviva PLC’s holdings in Alibaba Group were worth $35,198,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Alibaba Group in the third quarter worth about $287,000. Benjamin Edwards Inc. acquired a new position in Alibaba Group in the 3rd quarter worth approximately $508,000. Quantinno Capital Management LP grew its position in Alibaba Group by 56.8% during the 3rd quarter. Quantinno Capital Management LP now owns 19,659 shares of the specialty retailer’s stock worth $2,086,000 after purchasing an additional 7,123 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Alibaba Group by 40.1% in the third quarter. Stifel Financial Corp now owns 266,849 shares of the specialty retailer’s stock valued at $28,318,000 after purchasing an additional 76,407 shares in the last quarter. Finally, XTX Topco Ltd boosted its position in shares of Alibaba Group by 55.7% in the third quarter. XTX Topco Ltd now owns 20,059 shares of the specialty retailer’s stock worth $2,129,000 after buying an additional 7,174 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BABA shares. Bank of America upped their price target on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Benchmark increased their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Citigroup upped their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Barclays lifted their target price 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. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $148.14.

Alibaba Group Stock Performance

BABA opened at $116.56 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $276.85 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. The stock has a 50-day moving average of $125.77 and a 200-day moving average of $104.24. Alibaba Group Holding Limited has a 52-week low of $68.36 and a 52-week high of $148.43.

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 analysts’ consensus estimates of $2.84 by ($0.07). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The company had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. As a group, equities research analysts forecast 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.