Alibaba Group Holding Limited $BABA Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Alibaba Group by 29.9%, now holding 1,116,080 shares, valued at approximately $147.6 million.
• A variety of other hedge funds have also adjusted their stakes in Alibaba, with some, like Triata Capital Ltd, significantly increasing their positions by over 1,700%.
• Wall Street analysts have mixed feelings about Alibaba, with rating changes leading to a consensus of "Moderate Buy" and an average price target of $159.67.

Wellington Management Group LLP cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 29.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,116,080 shares of the specialty retailer's stock after selling 475,613 shares during the quarter. Wellington Management Group LLP's holdings in Alibaba Group were worth $147,579,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Mirae Asset Global Investments Co. Ltd. lifted its position in Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares during the period. Goldman Sachs Group Inc. grew its position in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Trivest Advisors Ltd acquired a new stake in Alibaba Group during the 1st quarter worth about $295,270,000. Invesco Ltd. grew its position in Alibaba Group by 55.9% during the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after purchasing an additional 1,259,718 shares during the period. Finally, Janus Henderson Group PLC grew its position in Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after purchasing an additional 1,030,999 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

BABA has been the topic of several analyst reports. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays decreased their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Price Performance

Shares of NYSE BABA traded up $4.7630 during trading on Friday, hitting $122.8530. The company had a trading volume of 13,809,464 shares, compared to its average volume of 10,840,921. The stock has a fifty day simple moving average of $116.41 and a two-hundred day simple moving average of $121.16. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43. The firm has a market capitalization of $292.98 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

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.