Commerzbank Aktiengesellschaft FI Cuts Stock Holdings in Alibaba Group Holding Limited $BABA

Commerzbank Aktiengesellschaft FI cut its stake in Alibaba Group Holding Limited (NYSE:BABA) by 42.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,932 shares of the specialty retailer’s stock after selling 2,199 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Alibaba Group were worth $333,000 at the end of the most recent reporting period.

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

Alibaba Group Trading Down 8.6%

Shares of Alibaba Group stock opened at $158.76 on Friday. The business has a fifty day simple moving average of $146.36 and a two-hundred day simple moving average of $127.50. The company has a market capitalization of $378.50 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 1.88 and a beta of 0.18. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Wednesday, September 3rd. Mizuho boosted their price objective on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein upped their target price on Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group reiterated a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Susquehanna boosted their target price on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $188.06.

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.