Titleist Asset Management LLC Lowers Position in Alibaba Group Holding Limited $BABA

Key Points

• Titleist Asset Management LLC sold 9,649 shares of Alibaba Group, reducing its stake by 45.7%, leaving 11,456 shares valued at approximately $1.5 million.
• Several hedge funds made significant changes to their positions in Alibaba during the first quarter, with some establishing new stakes and others massively increasing their holdings.
• Recent analyst reports have mixed ratings for Alibaba, with ten analysts recommending a Buy rating and a consensus price target of $159.67.

Titleist Asset Management LLC cut its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 45.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,456 shares of the specialty retailer's stock after selling 9,649 shares during the quarter. Titleist Asset Management LLC's holdings in Alibaba Group were worth $1,515,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alibaba Group by 3,214.5% during the first 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 in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of 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 acquiring an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 2,584,480 shares in the last quarter. Trivest Advisors Ltd acquired a new position in shares of Alibaba Group during the first quarter valued at about $295,270,000. Finally, Axiom Investors LLC DE acquired a new position in shares of Alibaba Group during the first quarter valued at about $276,909,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Alibaba Group stock traded up $3.63 during mid-day trading on Tuesday, hitting $138.63. The company had a trading volume of 36,388,680 shares, compared to its average volume of 21,244,824. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $148.43. The company's fifty day moving average is $117.95 and its 200-day moving average is $121.80. The company has a market capitalization of $330.53 billion, a price-to-earnings ratio of 16.12, a P/E/G ratio of 1.99 and a beta of 0.11.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday. Mizuho upped their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday. Barclays cut their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Bank of America increased their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the stock 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.62.

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.