Claar Advisors LLC Decreases Stake in Alibaba Group Holding Limited $BABA

Key Points

• Claar Advisors LLC reduced its stake in Alibaba Group by 2.9%, now holding 63,427 shares valued at approximately $8.4 million, making it the 13th largest position in their portfolio.
• Several institutional investors are actively trading Alibaba shares, with firms like Summit Securities and Hazlett Burt & Watson increasing their stakes significantly by over 1,960% and 100%, respectively.
• Wall Street analysts are optimistic about Alibaba, with a consensus rating of "Buy" and a price target average of $163.53, indicating strong future growth potential.

Claar Advisors LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,427 shares of the specialty retailer's stock after selling 1,873 shares during the quarter. Alibaba Group comprises approximately 2.8% of Claar Advisors LLC's portfolio, making the stock its 13th largest position. Claar Advisors LLC's holdings in Alibaba Group were worth $8,387,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in shares of Alibaba Group by 52.1% during the 1st quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC grew its holdings in shares of Alibaba Group by 42.6% during the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock worth $179,305,000 after purchasing an additional 404,842 shares during the period. WCM Investment Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $4,074,000. KMG Fiduciary Partners LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $1,948,000. Finally, Avaii Wealth Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $563,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Up 3.5%

Alibaba Group stock traded up $4.57 during midday trading on Friday, reaching $135.49. 19,166,179 shares of the stock traded hands, compared to its average volume of 17,007,000. The company has a 50-day simple moving average of $119.59 and a two-hundred day simple moving average of $122.09. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $148.43. The firm has a market cap of $323.03 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11. The company has a current ratio of 1.45, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BABA. Benchmark increased their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Barclays lowered their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Mizuho raised their target price on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Finally, Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, Alibaba Group has an average rating of "Buy" and an average price target of $163.53.

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.