JT Stratford LLC Reduces Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• JT Stratford LLC reduced its stake in Alibaba Group Holding Limited by 44.0%, holding 3,831 shares valued at approximately $507,000 after selling 3,007 shares during the first quarter.
• Despite reductions by some hedge funds, Accent Capital Management LLC and others increased their positions in Alibaba Group during the same period, indicating mixed sentiment among institutional investors.
• Alibaba Group's stock opened at $120.0630, with a 50-day moving average of $116.19 and a market capitalization of $286.33 billion, reflecting ongoing analyst interest and varied ratings on the stock.

JT Stratford LLC trimmed its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 44.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,831 shares of the specialty retailer's stock after selling 3,007 shares during the period. JT Stratford LLC's holdings in Alibaba Group were worth $507,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Accent Capital Management LLC lifted its stake 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 buying an additional 82 shares during the period. Greenleaf Trust grew its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares during the period. Marcum Wealth LLC raised its holdings in Alibaba Group by 3.2% in the 1st 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. lifted its stake in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. boosted its holdings 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 worth $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 1.1%

Shares of NYSE:BABA opened at $120.0630 on Wednesday. The stock has a 50-day simple moving average of $116.19 and a 200-day simple moving average of $120.74. The stock has a market capitalization of $286.33 billion, a P/E ratio of 16.12, a PEG ratio of 1.79 and a beta of 0.17. Alibaba Group Holding Limited has a 1 year low of $79.21 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.

Wall Street Analyst Weigh In

BABA has been the subject of several analyst reports. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Arete cut Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report on Tuesday, June 24th. Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Barclays decreased their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 target price on shares of 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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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