Alibaba Group Holding Limited $BABA Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Alibaba Group by 9.1%, owning 30,414 shares after selling 3,060 shares, with holdings valued at approximately $4.02 million.
• Several other hedge funds modified their positions in Alibaba, with increases from firms such as Summit Securities Group LLC and Hazlett Burt & Watson Inc., reflecting growing institutional interest.
• Wall Street analysts are optimistic about Alibaba, with multiple firms raising their price targets; the company has an average rating of "Buy" and an average price target of $167.40.

Acadian Asset Management LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,414 shares of the specialty retailer's stock after selling 3,060 shares during the quarter. Acadian Asset Management LLC's holdings in Alibaba Group were worth $4,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group during the first quarter valued at approximately $26,000. Summit Securities Group LLC increased its stake in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group during the first quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. increased its stake in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Alibaba Group during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Down 0.3%

Shares of NYSE:BABA opened at $155.02 on Monday. The firm has a fifty day moving average of $123.33 and a two-hundred day moving average of $122.41. The firm has a market capitalization of $369.57 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.11. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $156.85. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Barclays raised their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Benchmark raised their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Robert W. Baird raised their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of "Buy" and an average price target of $167.40.

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.

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