Alibaba Group Holding Limited (NYSE:BABA) Shares Sold by Summit Global Investments

Summit Global Investments cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,566 shares of the specialty retailer’s stock after selling 217 shares during the period. Summit Global Investments’ holdings in Alibaba Group were worth $557,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its position in shares of Alibaba Group by 3.7% in the 4th quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 101 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in Alibaba Group by 3.6% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock valued at $266,000 after buying an additional 108 shares during the last quarter. TRUE Private Wealth Advisors lifted its holdings in Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after buying an additional 112 shares during the last quarter. TBH Global Asset Management LLC boosted its position in shares of Alibaba Group by 2.4% during the 4th quarter. TBH Global Asset Management LLC now owns 4,795 shares of the specialty retailer’s stock worth $407,000 after acquiring an additional 112 shares in the last quarter. Finally, Xponance Inc. increased its holdings in shares of Alibaba Group by 4.5% in the 4th quarter. Xponance Inc. now owns 2,709 shares of the specialty retailer’s stock valued at $230,000 after acquiring an additional 116 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America boosted their target price on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a research report on Friday, February 28th. Robert W. Baird raised their price objective on Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $100.00 to $180.00 in a report on Monday, February 24th. Fifteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $144.07.

Alibaba Group Trading Down 0.4 %

NYSE:BABA opened at $134.58 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $117.57 and its 200-day simple moving average is $101.28. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $148.43. The firm has a market cap of $319.76 billion, a P/E ratio of 19.45, a PEG ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Equities analysts anticipate that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

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.