Cowa LLC Sells 3,048 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Cowa LLC reduced its holdings in Alibaba Group by 50% during the first quarter, leaving it with 3,042 shares valued at approximately $402,000.
• Other institutional investors have shown mixed activity, with Nations Financial Group increasing its stake by 121.9% to own 40,774 shares, while several other firms have either begun or expanded their investments in Alibaba.
• Alibaba's stock has seen a consensus rating of "Moderate Buy" from analysts, with various price targets ranging from $153.00 to $180.00.

Cowa LLC reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 50.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,042 shares of the specialty retailer's stock after selling 3,048 shares during the quarter. Cowa LLC's holdings in Alibaba Group were worth $402,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BABA. Accent Capital Management LLC increased its holdings in shares of Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after acquiring an additional 82 shares during the last quarter. Greenleaf Trust lifted its position in shares of Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after acquiring an additional 85 shares during the period. Marcum Wealth LLC lifted its position in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after buying an additional 86 shares during the last quarter. Principal Securities Inc. lifted its position in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after buying an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. lifted its position in shares of Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 0.9%

NYSE:BABA traded down $1.16 during mid-day trading on Friday, reaching $121.12. 11,116,699 shares of the company's stock traded hands, compared to its average volume of 11,928,832. Alibaba Group Holding Limited has a 12-month low of $79.21 and a 12-month high of $148.43. The firm has a market capitalization of $288.85 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 1.78 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company has a 50 day moving average price of $116.23 and a 200-day moving average price of $120.59.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BABA shares. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research note on Tuesday, June 24th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Robert W. Baird dropped their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Mizuho decreased their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.38.

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.