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Farley Capital L.P. Decreases Stock Position in Alibaba Group Holding Limited $BABA

Alibaba Group logo with Retail/Wholesale background

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Farley Capital L.P. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 33.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,776 shares of the specialty retailer's stock after selling 23,000 shares during the quarter. Alibaba Group accounts for about 5.7% of Farley Capital L.P.'s portfolio, making the stock its 5th biggest holding. Farley Capital L.P.'s holdings in Alibaba Group were worth $6,185,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BABA. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC grew its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Inlight Wealth Management LLC bought a new position in Alibaba Group in the first quarter valued at approximately $31,000. Finally, Bruce G. Allen Investments LLC bought a new position in Alibaba Group in the first quarter valued at approximately $31,000. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Mizuho dropped their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Finally, Arete Research lowered 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 company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

Check Out Our Latest Report on Alibaba Group

Alibaba Group Stock Performance

NYSE BABA traded down $1.3550 on Thursday, hitting $118.1350. 8,196,859 shares of the stock traded hands, compared to its average volume of 21,047,711. The business's fifty day moving average is $116.18 and its two-hundred day moving average is $120.73. Alibaba Group Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43. The firm has a market capitalization of $281.73 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.76 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

About Alibaba Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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