Brandywine Global Investment Management LLC Sells 135,400 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Alibaba Group by 50.4%, selling 135,400 shares and holding 133,368 shares valued at approximately $17.6 million.
• Multiple institutional investors have taken positions in Alibaba during the first quarter, including WCM Investment Management and KMG Fiduciary Partners, indicating ongoing interest in the stock despite recent selling.
• Analyst ratings for Alibaba show a mixed outlook, with a consensus rating of "Moderate Buy" and a target price of $153.29, despite recent price target revisions by various brokerages.

Brandywine Global Investment Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 50.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,368 shares of the specialty retailer's stock after selling 135,400 shares during the period. Brandywine Global Investment Management LLC's holdings in Alibaba Group were worth $17,635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alibaba Group by 3,214.5% during 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 buying an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Alibaba Group by 22.6% during the 1st 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. Trivest Advisors Ltd bought a new position in shares of Alibaba Group in the 1st quarter worth $295,270,000. Invesco Ltd. increased its holdings in shares of Alibaba Group by 55.9% in the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after buying an additional 1,259,718 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Alibaba Group by 95.4% in the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 1.1%

NYSE:BABA traded down $1.2750 on Tuesday, reaching $120.1250. 6,435,809 shares of the stock traded hands, compared to its average volume of 21,207,340. The company has a market capitalization of $286.48 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.78 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 Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43. The company's fifty day simple moving average is $116.23 and its 200 day simple moving average is $120.75.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird dropped their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Benchmark restated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Finally, Bank of America lowered their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Company 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.