Alibaba Group Holding Limited $BABA Shares Sold by Ridgewood Investments LLC

Key Points

• Ridgewood Investments LLC reduced its stake in Alibaba Group by 52.0% in Q2, now holding 5,593 shares valued at $634,000.
• Various hedge funds have made movements in Alibaba shares, with significant increases, including Hazlett Burt & Watson Inc. boosting their stake by 1,960.0%.
• Analysts have upgraded Alibaba stock expectations, with a consensus target price set at $168.81 and multiple firms issuing buy ratings.

Ridgewood Investments LLC decreased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 52.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,593 shares of the specialty retailer's stock after selling 6,051 shares during the quarter. Ridgewood Investments LLC's holdings in Alibaba Group were worth $634,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BABA. Kingstone Capital Partners Texas LLC boosted its holdings in Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after buying an additional 49,010,087 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Alibaba Group by 22.6% during the first 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 during the period. Price T Rowe Associates Inc. MD grew its position in Alibaba Group by 43.0% during the first 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alibaba Group by 85.6% during the first 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 during the period. Finally, Temasek Holdings Private Ltd grew its position in Alibaba Group by 23.4% during the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after buying an additional 1,045,789 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 0.9%

Shares of NYSE:BABA traded up $1.40 during trading hours on Monday, reaching $164.21. The stock had a trading volume of 18,631,078 shares, compared to its average volume of 24,786,252. The firm's 50 day moving average is $130.04 and its 200-day moving average is $123.54. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $167.44. 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 stock has a market capitalization of $391.48 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 2.00 and a beta of 0.11.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BABA. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. Jefferies Financial Group lifted their target price on shares of Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Susquehanna boosted their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research report on Thursday. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. Finally, Benchmark boosted their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of "Buy" and an average price target of $168.81.

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.