Summit Trail Advisors LLC Cuts Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Summit Trail Advisors LLC trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 2.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,453 shares of the specialty retailer’s stock after selling 130 shares during the period. Summit Trail Advisors LLC’s holdings in Alibaba Group were worth $354,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. TCG Advisory Services LLC increased its holdings in Alibaba Group by 75.9% during the 4th quarter. TCG Advisory Services LLC now owns 12,426 shares of the specialty retailer’s stock worth $963,000 after purchasing an additional 5,362 shares during the period. Knuff & Co LLC increased its stake in shares of Alibaba Group by 14.6% during the fourth quarter. Knuff & Co LLC now owns 42,361 shares of the specialty retailer’s stock worth $3,283,000 after buying an additional 5,406 shares during the period. Sapient Capital LLC acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $232,000. ABS Direct Equity Fund LLC purchased a new position in Alibaba Group in the fourth quarter worth approximately $922,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Alibaba Group during the fourth quarter worth $577,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.6 %

Shares of BABA opened at $78.09 on Wednesday. The firm has a 50 day simple moving average of $73.60 and a 200-day simple moving average of $75.11. The stock has a market cap of $198.15 billion, a price-to-earnings ratio of 14.65 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $102.50.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $19.12 by ($0.15). Alibaba Group had a net margin of 10.75% and a return on equity of 12.65%. The company had revenue of $260.35 billion during the quarter, compared to analysts’ expectations of $260.26 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. Equities analysts forecast that Alibaba Group Holding Limited will post 7.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BABA shares. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. decreased their price objective on Alibaba Group from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. The Goldman Sachs Group dropped their target price on Alibaba Group from $121.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Truist Financial cut their price objective on shares of Alibaba Group from $114.00 to $113.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Citigroup lowered their target price on shares of Alibaba Group from $126.00 to $124.00 and set a “buy” rating on the stock in a report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.