Sagespring Wealth Partners LLC Buys New Stake in Alibaba Group Holding Limited (NYSE:BABA)

Sagespring Wealth Partners LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,955 shares of the specialty retailer’s stock, valued at approximately $335,000.

A number of other large investors have also modified their holdings of BABA. Norges Bank acquired a new position in Alibaba Group in the 4th quarter worth $585,479,000. Renaissance Technologies LLC boosted its holdings in Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock valued at $254,000,000 after purchasing an additional 2,024,640 shares during the last quarter. Appaloosa LP grew its stake in Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Bank of Montreal Can increased its holdings in Alibaba Group by 92.7% during the 4th quarter. Bank of Montreal Can now owns 1,147,636 shares of the specialty retailer’s stock worth $97,308,000 after purchasing an additional 552,010 shares during the last quarter. Finally, WT Asset Management Ltd raised its position in shares of Alibaba Group by 364.4% in the 4th quarter. WT Asset Management Ltd now owns 634,200 shares of the specialty retailer’s stock valued at $53,774,000 after purchasing an additional 497,623 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on Alibaba Group from $170.00 to $169.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Barclays raised their price objective on Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, StockNews.com raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $150.36.

Alibaba Group Stock Down 1.5 %

BABA opened at $112.31 on Wednesday. The firm has a market cap of $266.77 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.61 and a beta of 0.24. 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 firm’s 50-day simple moving average is $127.13 and its 200-day simple moving average is $104.74. Alibaba Group Holding Limited has a twelve month low of $68.36 and a twelve month high of $148.43.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 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 business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Equities research analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Alibaba Group 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.