Summa Corp. Sells 47,750 Shares of Alibaba Group Holding Limited $BABA

Summa Corp. trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA) by 66.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,923 shares of the specialty retailer’s stock after selling 47,750 shares during the period. Alibaba Group accounts for about 1.4% of Summa Corp.’s holdings, making the stock its 9th largest position. Summa Corp.’s holdings in Alibaba Group were worth $2,713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. 1248 Management LLC acquired a new stake in Alibaba Group in the 1st quarter worth $26,000. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group in the 1st quarter worth $26,000. Summit Securities Group LLC grew its position in 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 purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. grew 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 worth $27,000 after purchasing an additional 196 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BABA has been the topic of several research analyst reports. UBS Group restated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Nomura lifted their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday. Finally, Sanford C. Bernstein lifted their target price on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $188.06.

Alibaba Group Trading Down 8.6%

Shares of NYSE BABA opened at $158.76 on Friday. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The company has a market cap of $378.50 billion, a PE ratio of 18.46, a P/E/G ratio of 1.88 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $146.36 and a two-hundred day moving average of $127.50.

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.