Global Endowment Management LP Sells 5,493 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Global Endowment Management LP has reduced its Alibaba holdings by 72.6%, selling 5,493 shares and currently holding 2,077 shares valued at $275,000.
• Several other hedge funds have increased their investments in Alibaba, with North Ridge Wealth Advisors and others purchasing new stakes valued between $26,000 and $34,000.
• Analysts have mixed views on Alibaba, with some lowering price targets, while the stock maintains a consensus rating of "Moderate Buy" with an average target price of $153.29.

Global Endowment Management LP decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 72.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,077 shares of the specialty retailer's stock after selling 5,493 shares during the period. Global Endowment Management LP's holdings in Alibaba Group were worth $275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC increased its position in shares of Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after acquiring an additional 82 shares during the last quarter. Greenleaf Trust increased its position in shares of Alibaba Group by 1.0% during the first 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 increased its position in shares of Alibaba Group by 3.2% during the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after acquiring an additional 86 shares during the last quarter. 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 valued at $2,225,000 after acquiring an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of 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 acquiring an additional 93 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of Alibaba Group stock traded down $0.7830 during trading hours on Wednesday, reaching $119.2070. The company had a trading volume of 3,419,421 shares, compared to its average volume of 21,103,293. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43. The business has a fifty day simple moving average of $116.19 and a 200 day simple moving average of $120.74. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market cap of $284.29 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.79 and a beta of 0.17.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BABA shares. Loop Capital set a $176.00 price objective on Alibaba Group in a report on Friday, May 16th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a report on Tuesday, June 24th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus price target of $159.67.

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.