Alibaba Group Holding Limited $BABA Shares Sold by SRN Advisors LLC

Key Points

• SRN Advisors LLC has significantly reduced its stake in Alibaba Group, dropping its holdings by 88% to just 2,036 shares valued at $269,000.
• Several institutional investors have increased their positions in Alibaba Group, with Brighton Jones LLC and Northern Trust Corp notably boosting their holdings by 40.4% and 48.0% respectively in the last quarter.
• Despite mixed ratings from analysts, Alibaba currently holds a consensus rating of "Moderate Buy" with an average target price of $159.67.

SRN Advisors LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 88.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,036 shares of the specialty retailer's stock after selling 14,964 shares during the period. SRN Advisors LLC's holdings in Alibaba Group were worth $269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the 1st quarter worth approximately $26,000. Summit Securities Group LLC lifted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth about $31,000. Finally, Inlight Wealth Management LLC acquired a new position in Alibaba Group during the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Shares of NYSE BABA traded up $3.63 during trading on Tuesday, reaching $138.63. The stock had a trading volume of 36,388,680 shares, compared to its average volume of 21,244,824. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $330.53 billion, a PE ratio of 16.12, a P/E/G ratio of 1.99 and a beta of 0.11. The firm's 50 day moving average price is $117.95 and its two-hundred day moving average price is $121.80.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BABA shares. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a report on Tuesday, June 24th. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Citigroup raised their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday. Finally, UBS Group reiterated a "buy" rating on shares of Alibaba Group in a report on Sunday. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.62.

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.