Alibaba Group Holding Limited $BABA Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 17.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,770 shares of the specialty retailer’s stock after selling 600 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Alibaba Group were worth $314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 196 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 8.6%

BABA opened at $158.76 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The business’s 50 day moving average price is $146.36 and its 200 day moving average price is $127.53. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The stock has a market capitalization of $378.50 billion, a PE ratio of 18.46, a P/E/G ratio of 2.05 and a beta of 0.18.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Mizuho boosted their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. UBS Group reiterated a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Nomura upped their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and an average price target of $188.06.

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.