Alibaba Group Holding Limited $BABA Shares Sold by Avaii Wealth Management LLC

Key Points

• Avaii Wealth Management LLC reduced its stake in Alibaba Group by 52.2%, owning 2,036 shares valued at approximately $231,000 after selling 2,219 shares in the second quarter.
• Several institutional investors made significant changes, including Kingstone Capital Partners which increased their holdings by over 1.3 million percent, owning over 49 million shares valued at $5.56 billion.
• Analysts have adjusted target prices for Alibaba stock, with Barclays raising its target from $145.00 to $190.00, reflecting a positive outlook with the stock currently rated a consensus "Buy."

Avaii Wealth Management LLC lessened its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 52.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the specialty retailer's stock after selling 2,219 shares during the period. Avaii Wealth Management LLC's holdings in Alibaba Group were worth $231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC boosted its holdings in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the period. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Temasek Holdings Private Ltd increased its stake in Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after purchasing an additional 1,045,789 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on BABA shares. Barclays increased their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Robert W. Baird increased their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday. UBS Group reissued a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Jefferies Financial Group increased their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, Citigroup lifted their price objective on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $172.81.

Alibaba Group Trading Up 8.3%

NYSE:BABA opened at $176.66 on Thursday. The stock has a market capitalization of $421.16 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.00 and a beta of 0.11. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $180.16. The stock has a fifty day moving average price of $132.17 and a two-hundred day moving average price of $124.18. 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 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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