Alibaba Group Holding Limited $BABA Stake Trimmed by Virtus Family Office LLC

Virtus Family Office LLC decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 19.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 28,449 shares of the specialty retailer’s stock after selling 7,001 shares during the period. Alibaba Group comprises about 4.8% of Virtus Family Office LLC’s portfolio, making the stock its 5th biggest holding. Virtus Family Office LLC’s holdings in Alibaba Group were worth $5,085,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BABA. Norges Bank bought a new stake in shares of Alibaba Group in the second quarter valued at approximately $527,243,000. Alkeon Capital Management LLC bought a new position in shares of Alibaba Group in the second quarter worth $184,291,000. Clear Street LLC bought a new stake in shares of Alibaba Group during the 2nd quarter valued at $58,503,000. National Bank of Canada FI boosted its stake in Alibaba Group by 373.5% in the 2nd quarter. National Bank of Canada FI now owns 602,233 shares of the specialty retailer’s stock worth $68,294,000 after purchasing an additional 475,053 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Alibaba Group by 8.0% during the second quarter. Fisher Asset Management LLC now owns 5,267,441 shares of the specialty retailer’s stock valued at $597,381,000 after buying an additional 390,883 shares during the period. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of analyst reports. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Freedom Capital cut Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Morgan Stanley lowered their price target on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Barclays lifted their target price on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $195.17.

Alibaba Group Trading Up 2.2%

Alibaba Group stock traded up $3.47 during trading hours on Friday, reaching $161.23. The company had a trading volume of 1,320,776 shares, compared to its average volume of 13,988,442. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The company has a 50-day moving average price of $158.89 and a 200 day moving average price of $153.26. The firm has a market cap of $384.91 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 3.47 and a beta of 0.39.

About Alibaba Group

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.