Douglas Lane & Associates LLC Decreases Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Douglas Lane & Associates LLC reduced its stake in Alibaba Group by 46.7%, selling 12,899 shares and leaving them with 14,745 shares valued at approximately $1.67 million.
• Several analysts have raised their price targets for Alibaba, with Bank of America setting a new target of $152.00 and Barclays raising theirs to $190.00, indicating a consensus rating of "Buy".
• Despite a decrease of 0.3% in stock price recently, Alibaba has seen a significant increase in various institutional investments, with a noted ownership of 13.47% by institutional investors.

Douglas Lane & Associates LLC reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 46.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,745 shares of the specialty retailer's stock after selling 12,899 shares during the period. Douglas Lane & Associates LLC's holdings in Alibaba Group were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC boosted its holdings in 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 acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group in the first quarter valued at approximately $26,000. 1248 Management LLC bought a new stake in Alibaba Group in the first quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in 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 acquiring an additional 196 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the topic of several analyst reports. Robert W. Baird upped their target price on Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 target price on shares of Alibaba Group in a report on Saturday, August 30th. UBS Group reiterated a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Benchmark boosted their price target on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Citigroup boosted their price target on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $167.40.

Alibaba Group Stock Up 1.9%

Shares of NYSE:BABA traded up $2.91 during trading on Monday, reaching $157.97. 23,486,073 shares of the stock were exchanged, compared to its average volume of 21,246,096. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $159.70. The stock has a fifty day moving average of $124.36 and a two-hundred day moving average of $122.59. The firm has a market cap of $376.61 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.90 and a beta of 0.11.

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.