Alibaba Group Holding Limited $BABA Shares Sold by Eminence Capital LP

Key Points

• Eminence Capital LP reduced its stake in Alibaba Group by 27.6%, selling 479,983 shares and holding a total of 1,261,432 shares, which now accounts for 2.8% of its portfolio.
• Several institutional investors have newly invested or significantly increased their positions in Alibaba, with institutional ownership now at 13.47% of the company's stock.
• Analyst ratings for Alibaba Group show a consensus rating of "Buy", with an average price target of $163.53, reflecting positive market sentiment despite a recent stock decline of 1.5%.

Eminence Capital LP reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 27.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,261,432 shares of the specialty retailer's stock after selling 479,983 shares during the quarter. Alibaba Group accounts for 2.8% of Eminence Capital LP's portfolio, making the stock its 13th biggest holding. Eminence Capital LP owned about 0.05% of Alibaba Group worth $166,799,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group in the first quarter worth about $26,000. Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. grew its position in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Alibaba Group during the 1st quarter valued at approximately $31,000. Institutional investors own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group restated a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a report on Sunday, August 31st. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Bank of America raised their price target on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday. Barclays dropped their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Robert W. Baird lifted their target price on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $163.53.

Alibaba Group Trading Up 3.5%

BABA traded up $4.57 during trading hours on Friday, reaching $135.49. 19,166,179 shares of the company's stock traded hands, compared to its average volume of 17,007,000. The firm has a 50-day moving average price of $119.59 and a 200 day moving average price of $122.11. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $323.03 billion, a PE ratio of 15.75, a PEG ratio of 1.83 and a beta of 0.11.

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.