Carmignac Gestion Lowers Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Carmignac Gestion reduced its holdings in Alibaba Group by 82.9% in the 1st quarter, owning only 4,933 shares worth $652,000 after selling 23,920 shares.
• Credit Agricole S A significantly increased its stake in Alibaba by 523.3%, now owning 292,443 shares valued at $38.67 million, while several other institutional investors also adjusted their positions.
• Analysts are mixed on Alibaba's outlook, with recent downgrades from multiple firms leading to an average rating of "Moderate Buy" and a target price of $159.67.

Carmignac Gestion decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 82.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,933 shares of the specialty retailer's stock after selling 23,920 shares during the quarter. Carmignac Gestion's holdings in Alibaba Group were worth $652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Credit Agricole S A grew its holdings in Alibaba Group by 523.3% in the 1st quarter. Credit Agricole S A now owns 292,443 shares of the specialty retailer's stock valued at $38,670,000 after buying an additional 245,522 shares during the period. Greenwoods Asset Management Hong Kong Ltd. purchased a new stake in shares of Alibaba Group during the 1st quarter worth about $79,489,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Alibaba Group by 89.3% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 97,597 shares of the specialty retailer's stock worth $12,905,000 after purchasing an additional 46,031 shares during the period. Legacy Financial Advisors Inc. grew its holdings in shares of Alibaba Group by 97.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 6,589 shares of the specialty retailer's stock worth $871,000 after purchasing an additional 3,251 shares during the period. Finally, First Wilshire Securities Management Inc. grew its holdings in shares of Alibaba Group by 18.8% during the 1st quarter. First Wilshire Securities Management Inc. now owns 3,434 shares of the specialty retailer's stock worth $454,000 after purchasing an additional 544 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Alibaba Group stock opened at $120.0630 on Wednesday. The stock's 50 day moving average price is $116.19 and its 200 day moving average price is $120.74. The firm has a market capitalization of $286.33 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.79 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Arete cut 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. Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Arete Research cut Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Finally, Barclays decreased their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $159.67.

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.

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