Adalta Capital Management LLC Lowers Stake in Alibaba Group Holding Limited $BABA

Key Points

• Adalta Capital Management LLC reduced its holdings in Alibaba Group (NYSE:BABA) by 51.4%, selling 2,940 shares and ending up with 2,780 shares valued at approximately $368,000.
• Other institutional investors like Goldman Sachs and Price T Rowe Associates increased their stakes in Alibaba by significant percentages, indicating continued interest in the stock despite Adalta's sell-off.
• Analysts are optimistic about Alibaba's prospects, with a consensus target price of $163.53 and numerous ratings suggesting it is a strong buy.

Adalta Capital Management LLC trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 51.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,780 shares of the specialty retailer's stock after selling 2,940 shares during the quarter. Adalta Capital Management LLC's holdings in Alibaba Group were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC lifted its position 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 valued at $26,000 after buying an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its position 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 valued at $27,000 after buying an additional 196 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at $31,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BABA has been the topic of a number of recent research reports. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. Citigroup upped their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Mizuho upped their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $166.53.

Alibaba Group Price Performance

Alibaba Group stock traded up $5.95 during midday trading on Tuesday, reaching $147.15. 32,714,791 shares of the stock were exchanged, compared to its average volume of 17,880,110. The company's fifty day moving average is $120.81 and its 200-day moving average is $122.15. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The firm has a market cap of $350.84 billion, a PE ratio of 17.11, a PEG ratio of 1.97 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

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.