Alibaba Group Holding Limited $BABA is Summa Corp.'s 9th Largest Position

Key Points

• Summa Corp. has significantly reduced its stake in Alibaba Group by 66.6% during the second quarter, leaving it with approximately 23,923 shares and making Alibaba its 9th largest position.
• Alibaba Group's stock performance shows volatility, with a 1-year low of $80.06 and a high of $192.67, while currently trading around $158.76.
• A range of analysts have varied ratings on Alibaba Group, with one showing a Strong Buy, several Buy ratings, and a consensus price target of $188.06.

Summa Corp. decreased its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 66.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,923 shares of the specialty retailer's stock after selling 47,750 shares during the quarter. Alibaba Group makes up about 1.4% of Summa Corp.'s holdings, making the stock its 9th biggest position. Summa Corp.'s holdings in Alibaba Group were worth $2,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the 1st quarter worth approximately $26,000. Summit Securities Group LLC lifted its position in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Alibaba Group in the 1st quarter worth approximately $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. lifted its position in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $158.76 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The firm's fifty day simple moving average is $146.36 and its 200 day simple moving average is $127.50. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $378.50 billion, a PE ratio of 18.46, a PEG ratio of 1.88 and a beta of 0.18.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Alibaba Group in a research report on Wednesday. Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. dropped their price target on shares of Alibaba Group from $245.00 to $240.00 and set an "overweight" rating on the stock in a research note on Thursday. Mizuho increased their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $188.06.

Alibaba Group 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.

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