Clear Harbor Asset Management LLC Sells 2,610 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Clear Harbor Asset Management LLC reduced its stake in Alibaba Group Holding Limited by 18.5%, selling 2,610 shares during the second quarter.
• Recent analyst reports have upgraded Alibaba's stock ratings, with Barclays increasing its target price from $145.00 to $190.00 and providing an "overweight" rating.
• The current market capitalization of Alibaba stands at approximately $391.48 billion, with a P/E ratio of 19.09 and an average stock rating of "Buy" from analysts.

Clear Harbor Asset Management LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,526 shares of the specialty retailer's stock after selling 2,610 shares during the period. Clear Harbor Asset Management LLC's holdings in Alibaba Group were worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1248 Management LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the first quarter valued at $26,000. Summit Securities Group LLC grew its holdings 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. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the first quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. grew its holdings 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. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

BABA stock opened at $164.21 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50-day moving average price of $130.04 and a 200 day moving average price of $123.54. The company has a market capitalization of $391.48 billion, a P/E ratio of 19.09, a PEG ratio of 2.00 and a beta of 0.11. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $167.44.

Analysts Set New Price Targets

BABA has been the subject of a number of recent research reports. Barclays raised their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Arete raised shares of 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, September 3rd. Sanford C. Bernstein reissued an "outperform" rating and issued a $160.00 target price on shares of Alibaba Group in a report on Saturday, August 30th. Finally, Citigroup raised their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $168.81.

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.

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