New York State Common Retirement Fund Sells 173,379 Shares of Alibaba Group Holding Limited (NYSE:BABA)

New York State Common Retirement Fund trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 35.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 318,731 shares of the specialty retailer’s stock after selling 173,379 shares during the period. New York State Common Retirement Fund’s holdings in Alibaba Group were worth $24,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its holdings in shares of Alibaba Group by 16.9% during the third quarter. DAVENPORT & Co LLC now owns 6,550 shares of the specialty retailer’s stock worth $568,000 after purchasing an additional 945 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Alibaba Group by 61.5% during the third quarter. Exchange Traded Concepts LLC now owns 14,689 shares of the specialty retailer’s stock worth $1,274,000 after purchasing an additional 5,594 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Alibaba Group by 12.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 4,086 shares of the specialty retailer’s stock worth $354,000 after purchasing an additional 465 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Alibaba Group by 7.1% during the third quarter. Ballentine Partners LLC now owns 8,842 shares of the specialty retailer’s stock worth $767,000 after purchasing an additional 584 shares during the last quarter. Finally, Clarius Group LLC bought a new stake in shares of Alibaba Group during the third quarter worth $200,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group decreased their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Robert W. Baird decreased their price target on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, April 9th. Mizuho reiterated a “buy” rating and issued a $95.00 price target on shares of Alibaba Group in a report on Wednesday, March 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Price Performance

Shares of BABA opened at $75.55 on Friday. The stock has a market cap of $191.70 billion, a P/E ratio of 13.94 and a beta of 0.46. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average price is $73.19 and its two-hundred day moving average price is $75.50. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $102.50.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 EPS for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). The business had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. On average, equities analysts predict that Alibaba Group Holding Limited will post 7.54 earnings per share for the current 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.