Hi Line Capital Management LLC Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

Hi Line Capital Management LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,874 shares of the specialty retailer’s stock after selling 7,591 shares during the quarter. Alibaba Group accounts for approximately 2.4% of Hi Line Capital Management LLC’s holdings, making the stock its 16th biggest holding. Hi Line Capital Management LLC’s holdings in Alibaba Group were worth $6,192,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sanders Capital LLC lifted its holdings in Alibaba Group by 322.7% during the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer’s stock valued at $1,303,636,000 after buying an additional 11,473,618 shares in the last quarter. 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 worth $1,007,058,000 after purchasing an additional 1,406,491 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Alibaba Group by 461.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,215,884 shares of the specialty retailer’s stock valued at $365,686,000 after purchasing an additional 3,464,723 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Alibaba Group by 65.6% in the 3rd quarter. American Century Companies Inc. now owns 3,508,392 shares of the specialty retailer’s stock worth $304,318,000 after buying an additional 1,389,233 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Alibaba Group by 0.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,480,200 shares of the specialty retailer’s stock valued at $215,133,000 after acquiring an additional 18,900 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $78.87 on Thursday. The company has a fifty day moving average of $73.60 and a two-hundred day moving average of $75.11. Alibaba Group Holding Limited has a fifty-two week low of $66.63 and a fifty-two week high of $102.50. The stock has a market capitalization of $200.13 billion, a PE ratio of 14.48 and a beta of 0.44. 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 released its quarterly earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The company had revenue of $260.35 billion for the quarter, compared to analyst estimates of $260.26 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. As a group, research analysts forecast that Alibaba Group Holding Limited will post 7.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna decreased their price objective on Alibaba Group from $150.00 to $135.00 and set a “positive” rating for the company in a research note on Thursday, February 8th. The Goldman Sachs Group lowered their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Citigroup reduced their target price on Alibaba Group from $126.00 to $124.00 and set a “buy” rating for the company in a research note on Wednesday, April 10th. Barclays decreased their price objective on shares of Alibaba Group from $138.00 to $109.00 and set an “overweight” rating for the company in a research note on Friday, January 12th. Finally, Truist Financial reduced their price objective on Alibaba Group from $114.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $112.49.

Alibaba Group 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.