SVB Wealth LLC Sells 13,661 Shares of Alibaba Group Holding Limited $BABA

Key Points

• SVB Wealth LLC significantly reduced its stake in Alibaba Group by 77.9%, now holding only 3,872 shares valued at about $512,000 as of the latest SEC filing.
• Several hedge funds have increased their positions in Alibaba, with Northern Trust Corp raising its holdings by 48.0%, acquiring an additional 490,913 shares.
• Analysts have varied opinions on Alibaba's stock, with Mizuho recently lowering its target price to $160.00 while a consensus rating remains a "Moderate Buy" with a target price of $159.67.

SVB Wealth LLC lowered its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 77.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,872 shares of the specialty retailer's stock after selling 13,661 shares during the period. SVB Wealth LLC's holdings in Alibaba Group were worth $512,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BABA. Mirae Asset Global Investments Co. Ltd. grew its position in Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Alibaba Group by 43.0% in the first 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 acquiring an additional 2,584,480 shares during the period. Trivest Advisors Ltd acquired a new position in Alibaba Group in the first quarter valued at approximately $295,270,000. Finally, Invesco Ltd. lifted its stake in Alibaba Group by 55.9% in the first quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock valued at $464,526,000 after buying an additional 1,259,718 shares during the period. Institutional investors own 13.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research report on Tuesday, June 24th. Barclays lowered their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Stock Up 1.1%

Alibaba Group stock traded up $1.41 during trading on Monday, hitting $124.35. 12,835,224 shares of the company were exchanged, compared to its average volume of 11,180,659. The business's 50 day moving average is $116.58 and its 200 day moving average is $121.45. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 week high of $148.43. The company has a market capitalization of $296.55 billion, a P/E ratio of 16.69, a PEG ratio of 1.81 and a beta of 0.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19.

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.