Alibaba Group Holding Limited $BABA Shares Sold by Philosophy Capital Management LLC

Key Points

• Philosophy Capital Management LLC reduced its stake in Alibaba Group by 17.6%, selling 26,099 shares and now holding 121,840 shares, which constitute 1.1% of its total holdings.
• Several other institutional investors, such as Accent Capital Management and Greenleaf Trust, have increased their holdings in Alibaba Group, reflecting a mix of investor sentiment regarding the stock.
• Analysts have set varied price targets for Alibaba Group, with a consensus target price of $163.53 and a mixture of "buy" and "outperform" ratings from different firms.

Philosophy Capital Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,840 shares of the specialty retailer's stock after selling 26,099 shares during the quarter. Alibaba Group makes up 1.1% of Philosophy Capital Management LLC's holdings, making the stock its 20th biggest position. Philosophy Capital Management LLC's holdings in Alibaba Group were worth $16,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pingora Partners LLC lifted its stake in shares of Alibaba Group by 2.4% in the first quarter. Pingora Partners LLC now owns 35,699 shares of the specialty retailer's stock worth $4,720,000 after buying an additional 821 shares in the last quarter. Pinnacle Family Advisors LLC acquired a new stake in shares of Alibaba Group during the first quarter valued at about $620,000. NewEdge Advisors LLC grew its holdings in shares of Alibaba Group by 10.5% in the first quarter. NewEdge Advisors LLC now owns 83,874 shares of the specialty retailer's stock valued at $11,091,000 after purchasing an additional 7,939 shares in the last quarter. Infusive Asset Management Inc. grew its holdings in shares of Alibaba Group by 135.6% in the first quarter. Infusive Asset Management Inc. now owns 43,465 shares of the specialty retailer's stock valued at $5,747,000 after purchasing an additional 25,019 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Alibaba Group by 27.2% in the first quarter. Integrated Wealth Concepts LLC now owns 34,592 shares of the specialty retailer's stock valued at $4,574,000 after purchasing an additional 7,395 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA traded up $4.57 during trading on Friday, hitting $135.49. The stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,478,944. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $323.03 billion, a P/E ratio of 15.75, a PEG ratio of 1.89 and a beta of 0.11. The company's 50-day moving average price is $119.59 and its 200 day moving average price is $121.99. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BABA shares. Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Citigroup boosted their price objective on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Finally, Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $163.53.

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.