Alyeska Investment Group L.P. Sells 3,619,859 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Alyeska Investment Group L.P. has reduced its stake in Alibaba Group Holding Limited by 91.0%, selling 3,619,859 shares and now holding 359,118 shares valued at approximately $47.49 million.
• Institutional investors and hedge funds together own 13.47% of Alibaba's stock, indicating a significant level of institutional investment in the company.
• Analysts have varied outlooks on Alibaba, with target price adjustments ranging from $145.00 to $160.00, while the stock currently has an average rating of "Buy" and a target price of $163.53.

Alyeska Investment Group L.P. cut its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 91.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 359,118 shares of the specialty retailer's stock after selling 3,619,859 shares during the period. Alyeska Investment Group L.P.'s holdings in Alibaba Group were worth $47,486,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Alibaba Group by 68.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 3,270 shares of the specialty retailer's stock valued at $277,000 after purchasing an additional 1,325 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Alibaba Group by 13.0% during the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock valued at $39,992,000 after purchasing an additional 54,342 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Alibaba Group during the fourth quarter valued at approximately $439,000. Finally, Captrust Financial Advisors raised its holdings in shares of Alibaba Group by 5.0% during the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after purchasing an additional 536 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BABA. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete raised shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a report on Wednesday. Mizuho upped their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Citigroup upped their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $163.53.

Alibaba Group Price Performance

Shares of BABA traded up $4.57 during mid-day trading on Friday, reaching $135.49. The stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,007,000. The firm has a market cap of $323.03 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.83 and a beta of 0.11. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $148.43. The business has a fifty day moving average of $119.59 and a 200 day moving average of $122.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 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.