Alibaba Group Holding Limited $BABA Shares Sold by Root Financial Partners LLC

Root Financial Partners LLC trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 81.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,444 shares of the specialty retailer’s stock after selling 10,508 shares during the period. Root Financial Partners LLC’s holdings in Alibaba Group were worth $437,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Verde Servicos Internacionais S.A. increased its holdings in shares of Alibaba Group by 6.9% in the 2nd quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock valued at $7,686,000 after purchasing an additional 4,373 shares during the period. NTV Asset Management LLC boosted its holdings in shares of Alibaba Group by 127.4% during the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock worth $2,707,000 after purchasing an additional 8,484 shares during the period. Ninety One UK Ltd purchased a new position in Alibaba Group during the second quarter valued at approximately $15,318,000. Marex Group plc acquired a new position in Alibaba Group in the 2nd quarter valued at approximately $17,139,000. Finally, Y Intercept Hong Kong Ltd increased its stake in Alibaba Group by 197.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after buying an additional 22,701 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

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Alibaba Group Stock Performance

BABA opened at $162.15 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $387.13 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.56 and a beta of 0.37. The stock has a 50-day moving average of $156.02 and a 200-day moving average of $148.93. Alibaba Group Holding Limited has a 52-week low of $84.42 and a 52-week high of $192.67.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of research reports. Bank of America lifted their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Mizuho set a $195.00 price objective on Alibaba Group in a research report on Wednesday, October 22nd. Nomura lowered their target price on Alibaba Group from $215.00 to $193.00 and set a “buy” rating on the stock in a research note on Monday, January 12th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research note on Wednesday, November 26th. Finally, Loop Capital set a $140.00 price target on Alibaba Group in a research note on Tuesday, January 6th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $191.63.

Read Our Latest Analysis on BABA

About Alibaba Group

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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