Evergreen Capital Management LLC Cuts Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Evergreen Capital Management LLC reduced its stake in Alibaba by 13.0%, holding 74,155 shares worth approximately $9.8 million after selling 11,079 shares.
• Hedge fund activity varies, with firms like American Century Companies Inc. increasing their stakes in Alibaba by over 52%, while overall institutional ownership stands at 13.47%.
• Recent analyst ratings show a mixed outlook for Alibaba, with a consensus rating of "Moderate Buy" and an average target price of $159.67.

Evergreen Capital Management LLC lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,155 shares of the specialty retailer's stock after selling 11,079 shares during the period. Evergreen Capital Management LLC's holdings in Alibaba Group were worth $9,806,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Robert W. Baird lowered their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. UBS Group restated a "buy" rating on shares of Alibaba Group in a research note on Sunday. Barclays lowered their price objective on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $159.69.

Alibaba Group Stock Performance

NYSE BABA traded up $15.54 on Monday, reaching $135.11. 82,003,855 shares of the company's stock traded hands, compared to its average volume of 14,601,554. The firm has a market cap of $322.14 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 1.99 and a beta of 0.11. The stock has a 50 day moving average price of $117.51 and a 200-day moving average price of $121.72. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

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.