Freestone Capital Holdings LLC Sells 7,211 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Freestone Capital Holdings LLC has significantly reduced its stake in Alibaba Group, selling 7,211 shares and holding 1,596 shares after the sale, a decrease of 81.9%.
• Despite the sell-off by Freestone Capital Holdings, other institutional investors, such as Raymond James Financial Inc., increased their stakes, with Raymond James purchasing an additional 89,043 shares.
• Alibaba Group's stock currently has a market capitalization of $286.33 billion and is rated as a "Moderate Buy" by analysts, with an average price target of $159.67.

Freestone Capital Holdings LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 81.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,596 shares of the specialty retailer's stock after selling 7,211 shares during the period. Freestone Capital Holdings LLC's holdings in Alibaba Group were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares in the last quarter. Guggenheim Capital LLC raised its position in Alibaba Group by 11.0% in the 4th quarter. Guggenheim Capital LLC now owns 7,794 shares of the specialty retailer's stock valued at $661,000 after buying an additional 770 shares during the last quarter. GeoWealth Management LLC raised its position in Alibaba Group by 119.1% in the 4th quarter. GeoWealth Management LLC now owns 1,126 shares of the specialty retailer's stock valued at $95,000 after buying an additional 612 shares during the last quarter. First Trust Advisors LP increased its position in shares of Alibaba Group by 2.2% during the 4th quarter. First Trust Advisors LP now owns 47,897 shares of the specialty retailer's stock worth $4,061,000 after purchasing an additional 1,037 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Alibaba Group by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,741,485 shares of the specialty retailer's stock worth $147,661,000 after purchasing an additional 103,916 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of BABA traded up $4.7630 during midday trading on Friday, hitting $122.8530. The company's stock had a trading volume of 13,809,464 shares, compared to its average volume of 11,180,659. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43. The stock has a market capitalization of $292.98 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17. The company's fifty day simple moving average is $116.41 and its two-hundred day simple moving average is $121.31.

Analyst Ratings Changes

Several research analysts have weighed in on BABA shares. Barclays lowered their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Finally, Arete downgraded 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. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $159.67.

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.