Norges Bank Acquires Shares of 6,905,047 Alibaba Group Holding Limited (NYSE:BABA)

Norges Bank bought a new position in Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,905,047 shares of the specialty retailer’s stock, valued at approximately $585,479,000.

A number of other large investors have also modified their holdings of the stock. Thrivent Financial for Lutherans purchased a new stake in shares of Alibaba Group during the third quarter valued at approximately $321,000. The Manufacturers Life Insurance Company acquired a new stake in Alibaba Group during the 3rd quarter valued at $287,000. FMR LLC increased its stake in Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the period. CreativeOne Wealth LLC acquired a new position in Alibaba Group in the 3rd quarter worth $518,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alibaba Group by 2.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock valued at $1,523,000 after buying an additional 390 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Trading Down 2.3 %

Alibaba Group stock opened at $132.49 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. Alibaba Group Holding Limited has a 1 year low of $68.36 and a 1 year high of $148.43. The firm’s 50-day moving average is $121.60 and its 200-day moving average is $102.45. The company has a market cap of $314.80 billion, a P/E ratio of 19.15, a PEG ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Robert W. Baird lifted their target price on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Bank of America lifted their price objective on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Barclays increased their target price on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Finally, Citigroup increased 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. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $148.14.

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.