Alibaba Group Holding Limited $BABA Shares Sold by Appaloosa LP

Key Points

• Appaloosa LP has reduced its stake in Alibaba Group by 22.1%, now holding 9,230,000 shares after selling 2,613,158 shares.
• Several hedge funds have initiated or increased their positions in Alibaba, with institutional investors owning 13.47% of the company's stock.
• Analysts maintain a Moderate Buy rating for Alibaba, with price targets ranging from $152.00 to $187.00.

Appaloosa LP trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,230,000 shares of the specialty retailer's stock after selling 2,613,158 shares during the quarter. Alibaba Group comprises 14.6% of Appaloosa LP's portfolio, making the stock its biggest holding. Appaloosa LP owned 0.39% of Alibaba Group worth $1,220,483,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Accent Capital Management LLC increased its position in Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after buying an additional 82 shares during the last quarter. Greenleaf Trust boosted its holdings in Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after acquiring an additional 85 shares during the period. Marcum Wealth LLC boosted its holdings in Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares during the period. Principal Securities Inc. boosted its holdings in Alibaba Group by 0.5% during the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after acquiring an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings in Alibaba Group by 1.1% during the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after acquiring an additional 93 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BABA shares. Citigroup upped their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday. Benchmark upped their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday. Bank of America upped their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday. Barclays reduced their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of "Buy" and a consensus target price of $163.53.

Alibaba Group Price Performance

BABA traded up $4.57 during midday trading on Friday, reaching $135.49. 19,166,179 shares of the company's stock were exchanged, compared to its average volume of 17,007,000. The firm has a market capitalization of $323.03 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.83 and a beta of 0.11. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $148.43. The business has a 50-day simple moving average of $119.59 and a two-hundred day simple moving average of $122.11.

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.