AlTi Global Inc. Decreases Stake in Alibaba Group Holding Limited $BABA

Key Points

• AlTi Global Inc. has reduced its holdings in Alibaba Group by 32.2%, now owning 10,180 shares valued at approximately $1.35 million.
• Several institutional investors, including Accent Capital Management and Greenleaf Trust, have increased their positions in Alibaba Group during the same period.
• Research firms have recently raised their price targets for Alibaba, with Bank of America and Benchmark setting new targets at $152.00 and $195.00 respectively, indicating a bullish outlook on the stock.

AlTi Global Inc. lowered its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,180 shares of the specialty retailer's stock after selling 4,839 shares during the quarter. AlTi Global Inc.'s holdings in Alibaba Group were worth $1,346,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BABA. Accent Capital Management LLC lifted its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after buying an additional 82 shares in the last quarter. Greenleaf Trust lifted its stake in shares of Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after buying an additional 85 shares in the last quarter. Marcum Wealth LLC lifted its stake in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after buying an additional 86 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after buying an additional 89 shares in the last quarter. Finally, Institute for Wealth Management LLC. lifted its stake in shares of Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after buying an additional 93 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Barclays reduced their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Robert W. Baird boosted 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. Bank of America boosted their target price on shares of Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Buy" and an average price target of $163.53.

Alibaba Group Stock Up 3.5%

NYSE:BABA traded up $4.57 during midday trading on Friday, reaching $135.49. 19,166,179 shares of the stock traded hands, compared to its average volume of 17,007,000. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $148.43. The business has a 50-day moving average of $119.59 and a two-hundred day moving average of $122.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.45. The stock has a market capitalization of $323.03 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11.

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.