Inspire Trust Co. N.A. Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Inspire Trust Co. N.A. has decreased its holdings in Alibaba Group by 25.9%, selling 7,000 shares and reducing its total to 20,000 shares, valued at approximately $2.64 million.
• Recent institutional investments include North Ridge Wealth Advisors Inc. and others, reflecting continued interest in Alibaba Group among various hedge funds.
• Multiple brokerages have adjusted their price targets for Alibaba Group, with Barclays lowering its target from $180.00 to $145.00 while maintaining an "overweight" rating on the stock.

Inspire Trust Co. N.A. trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the specialty retailer's stock after selling 7,000 shares during the period. Inspire Trust Co. N.A.'s holdings in Alibaba Group were worth $2,645,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares in the last quarter. Bank of America Corp DE increased its stake in Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after purchasing an additional 752,275 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Alibaba Group by 1.1% during the 4th quarter. Alyeska Investment Group L.P. now owns 3,978,977 shares of the specialty retailer's stock valued at $337,377,000 after purchasing an additional 44,901 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of BABA stock traded down $1.16 during trading hours on Friday, reaching $121.12. The company had a trading volume of 11,116,699 shares, compared to its average volume of 12,711,124. The business has a fifty day moving average price of $116.23 and a 200-day moving average price of $120.30. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43. The firm has a market cap of $288.85 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of analyst reports. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective for the company. in a research note on Tuesday, June 24th. Barclays reduced 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. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Finally, Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group 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.