Harber Asset Management LLC Decreases Stake in Alibaba Group Holding Limited $BABA

Key Points

• Harber Asset Management LLC reduced its stake in Alibaba Group by 64.8% in the first quarter, now holding 80,586 shares with a value of approximately $10.66 million.
• Several institutional investors have increased their positions in Alibaba, including Hazlett Burt & Watson Inc., which grew its holdings by 1,960.0%.
• Wall Street analysts project a moderate buy rating for Alibaba, with a consensus price target of $159.67, reflecting varying opinions from firms like Morgan Stanley and Mizuho.

Harber Asset Management LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,586 shares of the specialty retailer's stock after selling 148,146 shares during the quarter. Alibaba Group comprises approximately 3.8% of Harber Asset Management LLC's investment portfolio, making the stock its 11th largest holding. Harber Asset Management LLC's holdings in Alibaba Group were worth $10,656,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% in the 1st 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 during the period. Hazlett Burt & Watson Inc. grew its position in Alibaba Group by 1,960.0% in the 1st 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 during the period. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on BABA. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Benchmark lifted their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Bank of America raised their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, UBS Group restated a "buy" rating on shares of Alibaba Group in a research note on Sunday. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $164.62.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $3.63 during mid-day trading on Tuesday, reaching $138.63. 41,343,698 shares of the company's stock were exchanged, compared to its average volume of 21,288,680. The firm has a market capitalization of $330.53 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a 50-day moving average price of $117.95 and a two-hundred day moving average price of $121.80.

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.