Twin Lakes Capital Management LLC Sells 2,077 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Twin Lakes Capital Management LLC reduced its stake in Alibaba Group by 12.7%, owning 14,273 shares after selling 2,077 shares in the first quarter, with Alibaba constituting about 1.1% of its total holdings.
• Several hedge funds have increased their positions in Alibaba, with notable growth from Brighton Jones LLC (40.4% increase) and Ethic Inc. (406.8% increase) in the fourth quarter.
• Analysts have raised price targets for Alibaba Group, with Benchmark setting a new target of $195.00 and Mizuho adjusting theirs to $159.00, reflecting a generally positive outlook for the stock.

Twin Lakes Capital Management LLC lessened its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 12.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,273 shares of the specialty retailer's stock after selling 2,077 shares during the period. Alibaba Group accounts for approximately 1.1% of Twin Lakes Capital Management LLC's portfolio, making the stock its 24th largest holding. Twin Lakes Capital Management LLC's holdings in Alibaba Group were worth $1,887,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BABA. Goldman Sachs Group Inc. raised 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 purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 purchasing an additional 3,947,460 shares in the last quarter. Temasek Holdings Private Ltd raised 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 purchasing an additional 1,045,789 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alibaba Group by 19.5% during the fourth 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 purchasing an additional 752,275 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Down 0.3%

Alibaba Group stock traded down $0.42 during trading hours on Friday, hitting $155.02. 20,865,680 shares of the stock traded hands, compared to its average volume of 20,758,024. The firm's 50-day moving average price is $123.33 and its two-hundred day moving average price is $122.63. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market cap of $369.60 billion, a PE ratio of 18.03, a PEG ratio of 2.17 and a beta of 0.11. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $156.85.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Bank of America raised their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Finally, Jefferies Financial Group boosted their price target on Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average price target of $167.40.

Alibaba Group Company 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.