Itau Unibanco Holding S.A. Has $6.39 Million Stake in Alibaba Group Holding Limited $BABA

Key Points

• Itau Unibanco Holding S.A. significantly reduced its stake in Alibaba Group by 81.5%, now holding 48,333 shares valued at approximately $6.39 million.
• In contrast, other institutional investors like Goldman Sachs and Price T Rowe Associates increased their holdings in Alibaba, highlighting divergent investment strategies among large funds.
• Alibaba's stock is experiencing a 1.5% decline, with analysts setting varied price targets, reflecting differing market outlooks on its future performance.

Itau Unibanco Holding S.A. decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 81.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,333 shares of the specialty retailer's stock after selling 212,527 shares during the quarter. Itau Unibanco Holding S.A.'s holdings in Alibaba Group were worth $6,391,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% during the first 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. Price T Rowe Associates Inc. MD increased its stake in shares of Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 worth $566,124,000 after purchasing an additional 438,537 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $390,885,000 after purchasing an additional 752,275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Down 1.5%

BABA stock opened at $122.29 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company's 50-day simple moving average is $116.94 and its 200 day simple moving average is $121.48. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 week high of $148.43. The company has a market capitalization of $291.65 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.83 and a beta of 0.17.

Analysts Set New Price Targets

Several research firms have recently weighed in on BABA. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research note on Friday, May 16th. Bank of America lowered their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Finally, Robert W. Baird dropped their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.

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