FengHe Fund Management Pte. Ltd. Sells 4,600 Shares of Alibaba Group Holding Limited $BABA

Key Points

• FengHe Fund Management Pte. Ltd. reduced its holdings in Alibaba Group by 8.8% during the 2nd quarter, selling 4,600 shares and now holds a total of 47,600 shares.
• Several hedge funds have significantly increased their stakes in Alibaba Group, with GAMMA Investing LLC raising its position by 13,483.0% in the first quarter.
• Wall Street analysts are generally bullish on Alibaba, with price targets set as high as $195.00, indicating a consensus rating of "Buy".

FengHe Fund Management Pte. Ltd. lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 8.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,600 shares of the specialty retailer's stock after selling 4,600 shares during the period. Alibaba Group makes up 0.9% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 18th largest holding. FengHe Fund Management Pte. Ltd.'s holdings in Alibaba Group were worth $5,398,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Brighton Jones LLC boosted its position in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alibaba Group by 13,483.0% in the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock worth $2,640,000 after acquiring an additional 19,820 shares during the last quarter. NBC Securities Inc. boosted its stake in Alibaba Group by 90,642.9% in the 1st quarter. NBC Securities Inc. now owns 6,352 shares of the specialty retailer's stock worth $840,000 after purchasing an additional 6,345 shares in the last quarter. Merit Financial Group LLC boosted its stake in Alibaba Group by 21.7% in the 1st quarter. Merit Financial Group LLC now owns 10,661 shares of the specialty retailer's stock worth $1,410,000 after purchasing an additional 1,903 shares in the last quarter. Finally, RFG Advisory LLC bought a new position in Alibaba Group in the 1st quarter worth about $643,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE BABA opened at $182.70 on Thursday. The business's fifty day moving average price is $137.93 and its 200-day moving average price is $125.56. The stock has a market capitalization of $435.57 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.06 and a beta of 0.18. 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 $183.08.

Wall Street Analyst Weigh In

BABA has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Arete Research raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Robert W. Baird upped their price target on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Bank of America upped their price target on Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $180.75.

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).

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.