IvyRock Asset Management HK Ltd Sells 73,100 Shares of Alibaba Group Holding Limited $BABA

IvyRock Asset Management HK Ltd trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 39.7% during the third quarter, HoldingsChannel.com reports. The firm owned 110,900 shares of the specialty retailer’s stock after selling 73,100 shares during the quarter. Alibaba Group accounts for approximately 8.5% of IvyRock Asset Management HK Ltd’s investment portfolio, making the stock its 4th biggest holding. IvyRock Asset Management HK Ltd’s holdings in Alibaba Group were worth $19,821,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BABA. Mather Group LLC. acquired a new position in Alibaba Group during the third quarter worth $30,000. NBT Bank N A NY grew its position in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares during the period. NewSquare Capital LLC grew its position in shares of Alibaba Group by 65.0% in the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 130 shares during the period. Elkhorn Partners Limited Partnership increased its stake in shares of Alibaba Group by 33.3% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 100 shares during the last quarter. Finally, Richardson Financial Services Inc. raised its holdings in shares of Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 65 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BABA shares. Benchmark reiterated a “buy” rating and set a $195.00 price target on shares of Alibaba Group in a report on Tuesday, November 25th. Macquarie Infrastructure reiterated an “outperform” rating on shares of Alibaba Group in a research note on Tuesday, November 25th. Freedom Capital lowered Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research note on Wednesday, November 26th. Finally, Wall Street Zen cut shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Seventeen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $152.31 on Thursday. The firm has a market cap of $363.64 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 3.35 and a beta of 0.39. The business’s 50 day moving average is $159.22 and its 200-day moving average is $157.18. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 1-year low of $95.73 and a 1-year high of $192.67.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Tuesday, November 25th. The specialty retailer reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.05). The firm had revenue of $34.80 billion during the quarter, compared to analyst estimates of $41.80 billion. Alibaba Group had a net margin of 12.38% and a return on equity of 10.51%. The business’s quarterly revenue was up 9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. Equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.