Miracle Mile Advisors LLC Sells 579 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Miracle Mile Advisors LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,310 shares of the specialty retailer’s stock after selling 579 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Alibaba Group were worth $799,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Sanders Capital LLC increased its holdings in shares of Alibaba Group by 322.7% in the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock worth $1,303,636,000 after acquiring an additional 11,473,618 shares in the last quarter. Morgan Stanley grew its holdings in shares of Alibaba Group by 1.1% during the fourth quarter. Morgan Stanley now owns 12,815,514 shares of the specialty retailer’s stock worth $1,128,919,000 after buying an additional 142,563 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Alibaba Group by 461.2% during the third quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock worth $365,686,000 after buying an additional 3,464,723 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Alibaba Group by 108,264.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,711,488 shares of the specialty retailer’s stock worth $326,945,000 after buying an additional 3,708,063 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Alibaba Group by 9.4% during the second quarter. Lazard Asset Management LLC now owns 3,611,817 shares of the specialty retailer’s stock worth $301,044,000 after buying an additional 310,713 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Susquehanna decreased their price objective on Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a report on Thursday, February 8th. Barclays decreased their price objective on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a report on Friday, January 12th. Robert W. Baird decreased their price objective on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 19th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group reduced their price target on Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $115.44.

Read Our Latest Stock Analysis on BABA

Alibaba Group Stock Performance

BABA opened at $72.92 on Wednesday. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $103.24. The stock has a market cap of $185.03 billion, a price-to-earnings ratio of 13.45 and a beta of 0.47. The business has a 50 day moving average of $73.69 and a 200-day moving average of $77.20. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.

Alibaba Group (NYSE:BABAGet Free Report) last released its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The business had revenue of $260.35 billion during the quarter, compared to analyst estimates of $260.26 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Alibaba Group Holding Limited will post 7.97 earnings per share for the current year.

Alibaba Group Profile

(Free Report)

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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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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