LGT Fund Management Co Ltd. Sells 6,568 Shares of Alibaba Group Holding Limited $BABA

LGT Fund Management Co Ltd. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 53.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the specialty retailer’s stock after selling 6,568 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Alibaba Group were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BABA. Kingstone Capital Partners Texas LLC grew its holdings in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after acquiring an additional 49,010,087 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock valued at $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Alibaba Group by 85.6% in the 1st 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 during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alibaba Group by 22.6% in the 1st 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Alibaba Group by 43.0% in the 1st 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 during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.7%

Alibaba Group stock opened at $187.94 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.22 and a beta of 0.18. The company’s 50 day simple moving average is $140.65 and its 200 day simple moving average is $126.04. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67.

Analyst Upgrades and Downgrades

BABA has been the topic of several recent research reports. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research note on Wednesday, September 3rd. Susquehanna raised their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Saturday, September 27th. Mizuho raised their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Finally, Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Alibaba Group has a consensus rating of “Buy” and an average price target of $181.88.

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.