Genesis Investment Management LLP Sells 157,817 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Genesis Investment Management LLP reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 76.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 49,452 shares of the specialty retailer’s stock after selling 157,817 shares during the quarter. Alibaba Group makes up about 4.6% of Genesis Investment Management LLP’s portfolio, making the stock its 10th largest holding. Genesis Investment Management LLP’s holdings in Alibaba Group were worth $4,193,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BABA. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the 2nd quarter worth $27,000. Concord Wealth Partners lifted its position in Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Alibaba Group during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC bought a new stake in Alibaba Group during the 3rd quarter worth approximately $36,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Alibaba Group in the second quarter worth approximately $38,000. Institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research report on Friday, November 15th. Mizuho upped their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird raised their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America upped their price objective on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Citigroup lifted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $115.13.

Alibaba Group Stock Performance

NYSE:BABA opened at $85.16 on Tuesday. Alibaba Group Holding Limited has a 1 year low of $66.63 and a 1 year high of $117.82. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day simple moving average of $86.06 and a two-hundred day simple moving average of $87.86. The company has a market capitalization of $202.93 billion, a P/E ratio of 17.27, a P/E/G ratio of 0.40 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to analysts’ expectations of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.82 EPS. On average, analysts expect that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

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.