US Bancorp DE Sells 9,719 Shares of Alibaba Group Holding Limited $BABA

US Bancorp DE cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,534 shares of the specialty retailer's stock after selling 9,719 shares during the period. US Bancorp DE's holdings in Alibaba Group were worth $3,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BABA. North Ridge Wealth Advisors Inc. bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. Summit Securities Group LLC boosted its stake in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC acquired a new stake in Alibaba Group in the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Alibaba Group stock opened at $166.75 on Tuesday. The business's 50-day simple moving average is $147.35 and its 200 day simple moving average is $127.68. The stock has a market cap of $397.55 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.99 and a beta of 0.18. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

Several analysts recently commented on BABA shares. Benchmark boosted their price target on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. CLSA boosted their price target on Alibaba Group from $155.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, October 2nd. Robert W. Baird boosted their price target on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Bank of America boosted their price objective on Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Finally, UBS Group reissued a "buy" rating and issued a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $188.06.

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.

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