The Alibaba Group Holding Ltd. (BABA) Shares Sold by Lazard Asset Management LLC

The Alibaba Group Holding Ltd. (BABA) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC cut its position in Alibaba Group Holding Ltd. (NYSE:BABA) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,921,315 shares of the company’s stock after selling 1,429 shares during the period. Lazard Asset Management LLC’s holdings in Alibaba Group Holding were worth $203,255,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in Alibaba Group Holding by 38.9% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 576,900 shares of the company’s stock valued at $45,881,000 after buying an additional 161,500 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Alibaba Group Holding by 76.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,605,993 shares of the company’s stock valued at $207,255,000 after buying an additional 1,130,509 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Alibaba Group Holding by 131.5% in the second quarter. ClariVest Asset Management LLC now owns 158,111 shares of the company’s stock valued at $12,574,000 after buying an additional 89,811 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Alibaba Group Holding by 1.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 767,361 shares of the company’s stock valued at $61,028,000 after buying an additional 8,235 shares in the last quarter. Finally, DSAM Partners London Ltd purchased a new stake in Alibaba Group Holding during the third quarter valued at approximately $2,327,000. Institutional investors and hedge funds own 34.76% of the company’s stock.

Shares of Alibaba Group Holding Ltd. (NYSE:BABA) opened at 96.17 on Friday. Alibaba Group Holding Ltd. has a 12-month low of $59.25 and a 12-month high of $109.87. The stock has a market cap of $238.31 billion, a PE ratio of 51.37 and a beta of 2.68. The firm has a 50-day moving average price of $91.44 and a 200 day moving average price of $94.58.

Alibaba Group Holding (NYSE:BABA) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.03 billion. Alibaba Group Holding had a return on equity of 13.29% and a net margin of 26.44%. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts expect that Alibaba Group Holding Ltd. will post $3.27 earnings per share for the current year.

Several research firms have recently commented on BABA. HSBC restated a “buy” rating and set a $120.00 price objective on shares of Alibaba Group Holding in a report on Thursday. Vetr downgraded Alibaba Group Holding from a “strong-buy” rating to a “buy” rating and set a $107.56 price objective for the company. in a report on Tuesday. Sanford C. Bernstein initiated coverage on Alibaba Group Holding in a research report on Wednesday, January 11th. They set an “outperform” rating and a $117.00 target price on the stock. Standpoint Research raised Alibaba Group Holding from a “hold” rating to an “accumulate” rating and set a $113.00 target price on the stock in a research report on Monday, January 9th. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Alibaba Group Holding in a research report on Friday, December 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Alibaba Group Holding has an average rating of “Buy” and an average price target of $118.57.

About Alibaba Group Holding

Alibaba Group Holding Limited is a holding company. The Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (the PRC or China) and internationally.

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