State of New Jersey Common Pension Fund D Invests $3.48 Million in Alibaba Group Holding Limited (NYSE:BABA)

State of New Jersey Common Pension Fund D purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,830 shares of the specialty retailer’s stock, valued at approximately $3,475,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Syon Capital LLC purchased a new position in Alibaba Group in the fourth quarter valued at $740,000. Wynn Capital LLC purchased a new position in Alibaba Group in the fourth quarter valued at $681,000. Bfsg LLC purchased a new position in Alibaba Group in the fourth quarter valued at $174,000. Harvest Fund Management Co. Ltd boosted its holdings in Alibaba Group by 5.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 227,135 shares of the specialty retailer’s stock valued at $17,603,000 after purchasing an additional 11,972 shares during the period. Finally, Private Management Group Inc. boosted its holdings in Alibaba Group by 19.6% in the fourth quarter. Private Management Group Inc. now owns 254,399 shares of the specialty retailer’s stock valued at $19,718,000 after purchasing an additional 41,655 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BABA. StockNews.com upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Benchmark reaffirmed a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Wednesday, April 10th. Mizuho reaffirmed a “buy” rating and set a $95.00 price target on shares of Alibaba Group in a report on Wednesday, March 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $85.00 price target on shares of Alibaba Group in a report on Tuesday, April 9th. Finally, Robert W. Baird decreased their price target on Alibaba Group from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $112.91.

Alibaba Group Stock Up 0.6 %

BABA opened at $75.55 on Friday. The stock has a market capitalization of $191.70 billion, a P/E ratio of 13.94 and a beta of 0.46. Alibaba Group Holding Limited has a one year low of $66.63 and a one year high of $102.50. The business’s 50-day simple moving average is $73.19 and its 200-day simple moving average is $75.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.80 and a current ratio of 1.80.

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