Douglas Lane & Associates LLC Sells 12,899 Shares of Alibaba Group Holding Limited $BABA

Douglas Lane & Associates LLC cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 46.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,745 shares of the specialty retailer’s stock after selling 12,899 shares during the period. Douglas Lane & Associates LLC’s holdings in Alibaba Group were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. 1248 Management LLC bought a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC raised its position in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. increased its position 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 owned by institutional investors.

Analyst Ratings Changes

BABA has been the subject of a number of research analyst reports. Barclays boosted their target price on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. Robert W. Baird boosted their target price on Alibaba Group from $142.00 to $153.00 and gave the company an “outperform” rating in a research report on Tuesday, September 2nd. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. Finally, UBS Group reiterated a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $167.40.

Alibaba Group Price Performance

BABA stock opened at $155.02 on Monday. The company has a market capitalization of $369.57 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $156.85. The business has a 50-day simple moving average of $123.33 and a two-hundred day simple moving average of $122.41.

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.