Secure Asset Management LLC Sells 7,885 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Secure Asset Management LLC reduced its stake in Alibaba Group by 79.2%, selling 7,885 shares during the second quarter, leaving it with 2,077 shares worth approximately $236,000.
• Several institutional investors have made significant changes to their positions in Alibaba, with some increasing their stakes by over 1,900% in recent quarters.
• Analysts have a consensus rating of "Buy" for Alibaba, with target prices ranging from $162.00 to $195.00, suggesting a positive outlook for the stock's future performance.

Secure Asset Management LLC lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 79.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,077 shares of the specialty retailer's stock after selling 7,885 shares during the quarter. Secure Asset Management LLC's holdings in Alibaba Group were worth $236,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Temasek Holdings Private Ltd grew its holdings 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 worth $728,633,000 after acquiring an additional 1,045,789 shares during the period. American Century Companies Inc. increased its holdings in shares of Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after purchasing an additional 785,494 shares during the last quarter. Causeway Capital Management LLC increased its holdings in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock valued at $179,305,000 after purchasing an additional 404,842 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Alibaba Group during the first quarter worth $4,074,000. Finally, KMG Fiduciary Partners LLC purchased a new position in Alibaba Group in the first quarter valued at $1,948,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Zacks Research raised Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. UBS Group restated a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Mizuho upped their price objective on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. Finally, Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Alibaba Group has an average rating of "Buy" and a consensus target price of $168.81.

Alibaba Group Trading Up 1.5%

NYSE BABA traded up $2.43 on Tuesday, hitting $166.68. 6,731,396 shares of the stock were exchanged, compared to its average volume of 21,439,230. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $167.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $397.38 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.00 and a beta of 0.11. The company's 50-day moving average price is $130.04 and its two-hundred day moving average price is $123.54.

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.