Alibaba Group Holding Limited $BABA Shares Sold by Tamar Securities LLC

Key Points

• Tamar Securities LLC reduced its stake in Alibaba Group by 2.0%, selling 3,058 shares and now holding 146,737 shares, valued at approximately $19.4 million.
• During the same period, Mirae Asset Global Investments significantly increased its holdings in Alibaba by 3,214.5%, acquiring over 4.2 million additional shares.
• Multiple research firms have raised their target prices for Alibaba, indicating a strong endorsement of the stock, with an average price target of $163.53.

Tamar Securities LLC trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,737 shares of the specialty retailer's stock after selling 3,058 shares during the period. Alibaba Group accounts for 2.6% of Tamar Securities LLC's portfolio, making the stock its 16th largest position. Tamar Securities LLC's holdings in Alibaba Group were worth $19,403,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position 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 worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position 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 acquiring an additional 2,584,480 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after acquiring an additional 752,275 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position 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 acquiring an additional 4,246,564 shares during the period. Finally, Invesco Ltd. increased its position in shares of Alibaba Group by 55.9% in the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock valued at $464,526,000 after acquiring an additional 1,259,718 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Shares of NYSE:BABA traded up $5.95 during midday trading on Tuesday, reaching $147.15. 32,714,791 shares of the company's stock traded hands, compared to its average volume of 17,880,110. The company has a fifty day simple moving average of $120.14 and a two-hundred day simple moving average of $121.97. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $148.43. The company has a market cap of $350.84 billion, a P/E ratio of 17.30, a PEG ratio of 1.97 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group reiterated a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. 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. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research report on Friday, May 16th. Finally, Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of "Buy" and a consensus target price of $166.53.

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.