Alibaba Group Holding Limited $BABA Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC has reduced its stake in Alibaba Group by 38.9%, now holding only 4,040 shares valued at approximately $458,000.
• Several institutional investors have recently altered their positions in Alibaba, with multiple new acquisitions and significant increases in holdings during the first quarter.
• Analysts generally have a positive outlook on Alibaba, with one boosting the price target to $230 and several others maintaining or upgrading their ratings for the stock.

Prime Capital Investment Advisors LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 38.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,040 shares of the specialty retailer's stock after selling 2,576 shares during the period. Prime Capital Investment Advisors LLC's holdings in Alibaba Group were worth $458,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC raised its position in shares of 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 buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. 1248 Management LLC acquired a new position in Alibaba Group in the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. raised its holdings 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 acquiring an additional 196 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BABA shares. Jefferies Financial Group boosted their price target on Alibaba Group from $178.00 to $230.00 and gave the company a "buy" rating in a report on Monday, September 29th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Nomura upped their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday. Erste Group Bank raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Zacks Research raised shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average price target of $188.06.

Alibaba Group Stock Down 8.6%

BABA opened at $158.76 on Friday. The firm has a 50 day moving average price of $146.36 and a 200 day moving average price of $127.53. The company has a market cap of $378.50 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.05 and a beta of 0.18. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

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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