Maxi Investments CY Ltd Sells 259,327 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Maxi Investments CY Ltd reduced its stake in Alibaba Group by 92.1%, now holding only 22,335 shares worth approximately $2.95 million after selling 259,327 shares during the first quarter.
• Other hedge funds have shown mixed activity, with some increasing their positions in Alibaba while a few, like Arete Research, downgraded their ratings, indicating a shift in market sentiment.
• Alibaba's stock is currently trading at $117.40, with a market capitalization of $280.04 billion and analysts generally rating the company as a "Moderate Buy" with a consensus price target of $153.29.

Maxi Investments CY Ltd lessened its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 92.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,335 shares of the specialty retailer's stock after selling 259,327 shares during the quarter. Maxi Investments CY Ltd's holdings in Alibaba Group were worth $2,953,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alibaba Group by 3,214.5% in the first 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. Trivest Advisors Ltd purchased a new position in shares of Alibaba Group in the first quarter valued at $295,270,000. Renaissance Technologies LLC grew its position in shares of Alibaba Group by 208.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after purchasing an additional 2,024,640 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares in the last quarter. Finally, Polunin Capital Partners Ltd grew its position in shares of Alibaba Group by 218.1% in the first quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after purchasing an additional 908,544 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Loop Capital set a $176.00 price target on Alibaba Group in a research report on Friday, May 16th. Bank of America reduced their target price on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Robert W. Baird reduced their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and an average price target of $153.29.

Alibaba Group Trading Down 0.5%

BABA traded down $0.53 during midday trading on Tuesday, reaching $116.97. 5,837,109 shares of the company's stock traded hands, compared to its average volume of 14,791,272. The firm has a fifty day moving average of $115.54 and a two-hundred day moving average of $118.68. The stock has a market capitalization of $279.01 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.73 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a 52 week low of $76.51 and a 52 week high of $148.43.

Alibaba Group Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Thursday, July 10th. Shareholders of record on Thursday, June 12th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a yield of 80.0%. Alibaba Group's dividend payout ratio is presently 12.75%.

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.