Massachusetts Financial Services Co. MA Sells 2,122 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Massachusetts Financial Services Co. MA trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 267,683 shares of the specialty retailer’s stock after selling 2,122 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Alibaba Group were worth $22,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC lifted its holdings in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock worth $240,000 after acquiring an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after purchasing an additional 108 shares during the period. TBH Global Asset Management LLC lifted its stake in Alibaba Group by 2.4% in the fourth quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer’s stock worth $407,000 after purchasing an additional 112 shares during the last quarter. Xponance Inc. boosted its position in Alibaba Group by 4.5% during the fourth quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer’s stock valued at $230,000 after buying an additional 116 shares during the period. Finally, Ashton Thomas Securities LLC increased its holdings in shares of Alibaba Group by 4.0% in the fourth quarter. Ashton Thomas Securities LLC now owns 3,193 shares of the specialty retailer’s stock worth $271,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BABA shares. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Thursday. Bank of America increased their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Benchmark lifted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Finally, Sanford C. Bernstein upgraded shares of Alibaba Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $104.00 to $165.00 in a research report on Tuesday, February 25th. Fifteen 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, the company currently has an average rating of “Buy” and a consensus target price of $148.14.

Alibaba Group Trading Down 9.9 %

BABA opened at $116.56 on Monday. The stock has a market cap of $276.85 billion, a PE ratio of 16.84, a PEG ratio of 0.61 and a beta of 0.24. The business 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. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA) last announced 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 business had revenue of $38.38 billion for the quarter, compared to the consensus estimate of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share 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.