Platinum Investment Management Ltd. Sells 17,907 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Platinum Investment Management Ltd. reduced its stake in Alibaba Group by 55.4%, holding 14,412 shares after selling 17,907 shares in the second quarter, valued at approximately $1,634,000.
• Several hedge funds have significantly increased their investments in Alibaba, with Kingstone Capital Partners Texas LLC boosting its holdings by an astonishing 1,349,768.3% and now owning 49,013,718 shares valued at around $5.56 billion.
• Equities analysts have raised their price targets for Alibaba, with Barclays increasing its target from $145.00 to $190.00, while JPMorgan Chase raised it from $170.00 to $245.00, reflecting a generally positive outlook.

Platinum Investment Management Ltd. cut its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 55.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,412 shares of the specialty retailer's stock after selling 17,907 shares during the period. Platinum Investment Management Ltd.'s holdings in Alibaba Group were worth $1,634,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BABA. Kingstone Capital Partners Texas LLC boosted its holdings in Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alibaba Group by 3,214.5% in 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 buying an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after buying an additional 3,947,460 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Up 2.2%

Shares of Alibaba Group stock opened at $182.70 on Thursday. The stock has a market capitalization of $435.57 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.18. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $137.93 and a 200 day simple moving average of $125.56. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $183.08.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BABA shares. Barclays increased their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. increased their price objective on shares of Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a research note on Wednesday. Benchmark increased their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $180.75.

Alibaba Group Company 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.

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