Pursue Wealth Partners LLC Sells 361 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Pursue Wealth Partners LLC lessened its position in Alibaba Group Holding Limited (NYSE:BABA) by 7.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,517 shares of the specialty retailer’s stock after selling 361 shares during the period. Pursue Wealth Partners LLC’s holdings in Alibaba Group were worth $350,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in BABA. Sanders Capital LLC grew its stake in Alibaba Group by 322.7% in the third quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after acquiring an additional 11,473,618 shares during the period. Assenagon Asset Management S.A. grew its stake in Alibaba Group by 461.2% in the third quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock valued at $365,686,000 after acquiring an additional 3,464,723 shares during the period. Blue Pool Management Ltd. acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $151,726,000. Morgan Stanley grew its stake in Alibaba Group by 13.8% in the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer’s stock valued at $1,007,058,000 after acquiring an additional 1,406,491 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Alibaba Group by 65.6% during the third quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer’s stock valued at $304,318,000 after buying an additional 1,389,233 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BABA. The Goldman Sachs Group cut their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Susquehanna cut their target price on Alibaba Group from $150.00 to $135.00 and set a “positive” rating on the stock in a research report on Thursday, February 8th. Macquarie cut Alibaba Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $88.50 to $85.40 in a research report on Thursday, February 8th. Barclays cut their target price on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research report on Friday, January 12th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $85.00 price objective on shares of Alibaba Group in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $112.91.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $0.44 during trading on Friday, reaching $75.55. 14,216,073 shares of the stock traded hands, compared to its average volume of 13,622,653. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50-day moving average of $73.19 and a 200-day moving average of $75.42. The stock has a market capitalization of $191.71 billion, a P/E ratio of 13.94 and a beta of 0.46.

Alibaba Group (NYSE:BABA) last issued 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 firm had revenue of $260.35 billion for the quarter, compared to analysts’ expectations of $260.26 billion. Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.44 EPS. Analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal 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.