Arnhold LLC Sells 38,695 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Arnhold LLC reduced its holdings in Alibaba by 20.3% in the first quarter, selling 38,695 shares and retaining 152,130 shares, valued at approximately $20 million.
• Multiple hedge funds initiated or increased their stakes in Alibaba during the same period, with institutional investors collectively owning 13.47% of the company’s stock.
• Analysts have varied outlooks on Alibaba, with a consensus rating of "Moderate Buy" and a price target of about $159.67, following recent adjustments by firms like Arete and Robert W. Baird.

Arnhold LLC decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,130 shares of the specialty retailer's stock after selling 38,695 shares during the period. Alibaba Group accounts for about 2.0% of Arnhold LLC's holdings, making the stock its 15th biggest position. Arnhold LLC's holdings in Alibaba Group were worth $20,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC grew 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 purchasing an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Alibaba Group by 1,960.0% in the first 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 in the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC purchased a new stake in Alibaba Group during the 1st quarter worth about $31,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Alibaba Group stock opened at $118.1350 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $281.73 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.76 and a beta of 0.17. The firm's fifty day moving average price is $116.21 and its 200-day moving average price is $120.87.

Analyst Ratings Changes

BABA has been the subject of a number of recent analyst reports. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a report on Tuesday, June 24th. Robert W. Baird reduced their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a report on Wednesday, May 14th. Finally, Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.67.

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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