Ramirez Asset Management Inc. Sells 34,309 Shares of Alibaba Group Holding Limited $BABA

Ramirez Asset Management Inc. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 44.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,013 shares of the specialty retailer's stock after selling 34,309 shares during the quarter. Ramirez Asset Management Inc.'s holdings in Alibaba Group were worth $4,878,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC raised its position in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Robert W. Baird lifted their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Mizuho lifted their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Erste Group Bank raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Alibaba Group in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $185.71.

Alibaba Group Stock Performance

NYSE BABA opened at $173.60 on Friday. The firm's fifty day moving average price is $145.53 and its two-hundred day moving average price is $127.35. The stock has a market cap of $413.88 billion, a PE ratio of 20.19, a PEG ratio of 2.14 and a beta of 0.18. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

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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