Commerzbank Aktiengesellschaft FI Lowers Position in Alibaba Group Holding Limited $BABA

Key Points

• Commerzbank Aktiengesellschaft FI reduced its stake in Alibaba Group Holding Limited by 42.9%, holding 2,932 shares worth approximately $333,000 after selling 2,199 shares in the second quarter.
• Despite Commerzbank's reduction, other institutional investors like Kingstone Capital Partners and Goldman Sachs Group increased their Alibaba holdings significantly, showcasing a mixed sentiment among investors.
• Alibaba's stock is currently down 8.6%, and recent analyst reports have given it a consensus rating of "Buy" with an average target price of $188.06.

Commerzbank Aktiengesellschaft FI cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 42.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,932 shares of the specialty retailer's stock after selling 2,199 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Alibaba Group were worth $333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC increased its holdings in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after buying an additional 3,947,460 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its holdings in shares of Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after purchasing an additional 1,045,789 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 8.6%

Shares of NYSE BABA opened at $158.76 on Friday. The firm has a market cap of $378.50 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.88 and a beta of 0.18. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The business's 50 day moving average is $146.36 and its two-hundred day moving average is $127.50.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BABA. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target for the company in a report on Wednesday, September 3rd. Nomura upped their target price on Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday. Sanford C. Bernstein upped their target price on Alibaba Group from $167.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday. Susquehanna increased their price target on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research report on Thursday, September 18th. Finally, Mizuho raised their target price on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $188.06.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.