Kazazian Asset Management LLC Buys Shares of 26,385 Alibaba Group Holding Limited (NYSE:BABA)

Kazazian Asset Management LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the fourth quarter, Holdings Channel.com reports. The fund purchased 26,385 shares of the specialty retailer’s stock, valued at approximately $2,237,000. Alibaba Group makes up approximately 1.7% of Kazazian Asset Management LLC’s portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after buying an additional 3,740,150 shares in the last quarter. Hhlr Advisors LTD. raised its position in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares in the last quarter. FMR LLC raised its position in shares of Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares in the last quarter. Appaloosa LP raised its holdings in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in shares of Alibaba Group in the 3rd quarter worth approximately $115,995,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on BABA shares. Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Benchmark boosted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Robert W. Baird boosted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Citigroup boosted their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, February 21st. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $142.67 on Wednesday. The firm has a fifty day simple moving average of $113.14 and a 200-day simple moving average of $99.73. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1-year low of $68.36 and a 1-year high of $148.43. The stock has a market capitalization of $338.97 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.61 and a beta of 0.27.

Alibaba Group (NYSE:BABA) last released its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The company had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 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.