Thornburg Investment Management Inc. Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

Thornburg Investment Management Inc. lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 55.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 335,824 shares of the specialty retailer's stock after selling 420,531 shares during the quarter. Thornburg Investment Management Inc.'s holdings in Alibaba Group were worth $25,977,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Baystate Wealth Management LLC lifted its holdings in shares of Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer's stock valued at $26,000 after buying an additional 216 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Alibaba Group in the fourth quarter worth about $26,000. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group during the 3rd quarter valued at about $30,000. Milestone Investment Advisors LLC purchased a new position in shares of Alibaba Group in the 3rd quarter valued at about $31,000. Finally, Anchor Investment Management LLC purchased a new position in Alibaba Group during the fourth quarter worth approximately $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 6.0 %

BABA stock traded down $5.09 during mid-day trading on Tuesday, hitting $79.51. 44,606,656 shares of the company were exchanged, compared to its average volume of 18,109,719. The business has a fifty day simple moving average of $74.15 and a 200-day simple moving average of $75.07. The firm has a market capitalization of $201.76 billion, a P/E ratio of 14.66 and a beta of 0.44. Alibaba Group Holding Limited has a 12-month low of $66.63 and a 12-month high of $102.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

Several brokerages have recently weighed in on BABA. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Tuesday, February 27th. Citigroup decreased their price target on shares of Alibaba Group from $126.00 to $124.00 and set a "buy" rating on the stock in a research note on Wednesday, April 10th. Mizuho reiterated a "buy" rating and set a $95.00 price objective on shares of Alibaba Group in a research note on Wednesday, March 27th. Robert W. Baird dropped their price target on Alibaba Group from $95.00 to $90.00 and set an "outperform" rating for the company in a research report on Friday, January 19th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $85.00 price objective on shares of Alibaba Group in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus target price of $112.49.

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.

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