Clark Capital Management Group Inc. Sells 11,523 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Clark Capital Management Group Inc. reduced its stake in Alibaba Group by 2.4%, now holding 462,480 shares valued at approximately $61.15 million.
• Major investors like American Century Companies and Causeway Capital Management have significantly increased their holdings in Alibaba Group, reflecting growing institutional interest.
• Despite mixed ratings from analysts, Alibaba Group maintains a consensus "Buy" rating with a target price around $163.53.

Clark Capital Management Group Inc. cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 462,480 shares of the specialty retailer's stock after selling 11,523 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Alibaba Group were worth $61,154,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BABA. Brighton Jones LLC raised its position in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares during the period. Aptus Capital Advisors LLC raised its position in shares of Alibaba Group by 68.1% in the fourth quarter. Aptus Capital Advisors LLC now owns 3,270 shares of the specialty retailer's stock valued at $277,000 after purchasing an additional 1,325 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Alibaba Group by 13.0% in the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock valued at $39,992,000 after acquiring an additional 54,342 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of Alibaba Group in the fourth quarter valued at about $439,000. Finally, Captrust Financial Advisors grew its stake in shares of Alibaba Group by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after acquiring an additional 536 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BABA has been the topic of several research reports. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. 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 research note on Tuesday, September 2nd. Sanford C. Bernstein restated an "outperform" rating and issued a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. 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 research note on Tuesday, September 2nd. Finally, UBS Group restated a "buy" rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $163.53.

Alibaba Group Price Performance

Alibaba Group stock traded up $4.57 during trading hours on Friday, reaching $135.49. 19,166,179 shares of the stock were exchanged, compared to its average volume of 17,007,000. The company has a market cap of $323.03 billion, a P/E 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. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43. The stock has a 50 day moving average of $119.59 and a two-hundred day moving average of $122.09.

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.