Platinum Investment Management Ltd. Has $1.63 Million Holdings in Alibaba Group Holding Limited $BABA

Platinum Investment Management Ltd. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 55.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 14,412 shares of the specialty retailer’s stock after selling 17,907 shares during the quarter. Platinum Investment Management Ltd.’s holdings in Alibaba Group were worth $1,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Naples Global Advisors LLC increased its position in Alibaba Group by 5.6% in the 2nd quarter. Naples Global Advisors LLC now owns 22,646 shares of the specialty retailer’s stock valued at $2,610,000 after acquiring an additional 1,210 shares in the last quarter. BSW Wealth Partners increased its position in Alibaba Group by 9.1% in the 2nd quarter. BSW Wealth Partners now owns 1,785 shares of the specialty retailer’s stock valued at $202,000 after acquiring an additional 149 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in Alibaba Group by 6,545.2% in the 2nd quarter. SOA Wealth Advisors LLC. now owns 54,424 shares of the specialty retailer’s stock valued at $6,172,000 after acquiring an additional 53,605 shares in the last quarter. Deltec Asset Management LLC increased its position in Alibaba Group by 28.9% in the 2nd quarter. Deltec Asset Management LLC now owns 5,575 shares of the specialty retailer’s stock valued at $632,000 after acquiring an additional 1,250 shares in the last quarter. Finally, Ninety One UK Ltd bought a new position in shares of Alibaba Group in the 2nd quarter valued at about $15,318,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of several recent research reports. Susquehanna raised their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Benchmark raised their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Alibaba Group in a research note on Saturday, August 30th. UBS Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $180.75.

Alibaba Group Stock Up 2.2%

Alibaba Group stock opened at $182.70 on Thursday. The company’s 50 day simple moving average is $137.93 and its 200 day simple moving average is $125.56. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $183.08. The firm has a market capitalization of $435.57 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.06 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

About Alibaba Group

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.