ICONIQ Capital LLC Sells 4,653 Shares of Alibaba Group Holding Limited $BABA

Key Points

• ICONIQ Capital LLC reduced its stake in Alibaba Group by 21.6%, selling 4,653 shares, leaving them with 16,845 shares valued at $2,227,000.
• Institutional investors have shown significant activity, with American Century Companies Inc. increasing its position by 52.1% and other firms acquiring new stakes during the first quarter.
• Analysts have recently downgraded Alibaba's stock ratings, with Barclays lowering its price target from $180.00 to $145.00, while eleven analysts still rate it as a Moderate Buy overall.

ICONIQ Capital LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,845 shares of the specialty retailer's stock after selling 4,653 shares during the quarter. ICONIQ Capital LLC's holdings in Alibaba Group were worth $2,227,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. increased its position in Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after acquiring an additional 785,494 shares during the period. WCM Investment Management LLC bought a new stake in Alibaba Group in the 1st quarter valued at $4,074,000. KMG Fiduciary Partners LLC bought a new stake in Alibaba Group in the 1st quarter valued at $1,948,000. Avaii Wealth Management LLC bought a new stake in Alibaba Group in the 1st quarter valued at $563,000. Finally, Fiduciary Alliance LLC increased its holdings in Alibaba Group by 18.3% in the 1st quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after buying an additional 18,230 shares during the period. Institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

BABA has been the topic of several analyst reports. Barclays lowered their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Robert W. Baird reduced their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. 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 research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Stock Up 4.0%

Shares of NYSE BABA opened at $122.8530 on Friday. The firm's 50-day simple moving average is $116.41 and its 200 day simple moving average is $121.16. The company has a market cap 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 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 12-month low of $79.21 and a 12-month high of $148.43.

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.

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