Harvest Fund Management Co. Ltd Has $17.60 Million Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Harvest Fund Management Co. Ltd raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 227,135 shares of the specialty retailer’s stock after purchasing an additional 11,972 shares during the quarter. Alibaba Group accounts for 2.7% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 9th biggest position. Harvest Fund Management Co. Ltd’s holdings in Alibaba Group were worth $17,603,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new position in shares of Alibaba Group during the third quarter valued at approximately $203,000. Global Retirement Partners LLC raised its holdings in shares of Alibaba Group by 8.7% during the third quarter. Global Retirement Partners LLC now owns 2,176 shares of the specialty retailer’s stock valued at $183,000 after acquiring an additional 175 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Alibaba Group by 192.0% during the third quarter. Flagship Harbor Advisors LLC now owns 7,656 shares of the specialty retailer’s stock valued at $664,000 after acquiring an additional 5,034 shares in the last quarter. DAVENPORT & Co LLC raised 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 valued at $568,000 after acquiring an additional 945 shares in the last quarter. Finally, Bellecapital International Ltd. grew its stake in Alibaba Group by 7.4% in the third quarter. Bellecapital International Ltd. now owns 17,082 shares of the specialty retailer’s stock worth $1,482,000 after purchasing an additional 1,171 shares during the period. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BABA shares. Citigroup reduced their price target on Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a research note on Wednesday, April 10th. Mizuho reaffirmed a “buy” rating and issued a $95.00 price target on shares of Alibaba Group in a research note on Wednesday, March 27th. Barclays reduced their price target on Alibaba Group from $138.00 to $109.00 and set an “overweight” rating on the stock in a research note on Friday, January 12th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, Macquarie cut Alibaba Group from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $88.50 to $85.40 in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $112.91.

Alibaba Group Stock Performance

NYSE:BABA traded up $1.82 on Tuesday, hitting $72.51. The stock had a trading volume of 15,229,294 shares, compared to its average volume of 18,130,295. The stock has a market cap of $183.98 billion, a price-to-earnings ratio of 13.38 and a beta of 0.47. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $73.11 and its two-hundred day simple moving average is $75.57. Alibaba Group Holding Limited has a 52-week low of $66.63 and a 52-week high of $102.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). The firm had revenue of $260.35 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. As a group, research analysts predict that Alibaba Group Holding Limited will post 7.54 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.