Alibaba Group Holding Limited $BABA Shares Sold by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 80.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,027 shares of the specialty retailer’s stock after selling 46,700 shares during the quarter. Alibaba Group comprises about 0.9% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 21st biggest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Alibaba Group were worth $1,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group during the 1st quarter worth about $26,000. Summit Securities Group LLC increased its position in Alibaba Group by 100.3% during the first 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 purchased a new position in Alibaba Group during the first quarter worth approximately $26,000. 1248 Management LLC purchased a new position in Alibaba Group during the first quarter worth approximately $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group in the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BABA shares. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Wednesday, September 3rd. Benchmark upped their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Bank of America lifted their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Barclays raised their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Stock Down 3.2%

Shares of NYSE:BABA opened at $160.60 on Wednesday. The company has a market capitalization of $383.20 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a 50 day moving average of $166.52 and a two-hundred day moving average of $135.96. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.