Alibaba Group Holding Limited $BABA Stake Trimmed by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lessened its position in Alibaba Group Holding Limited (NYSE:BABA) by 58.0% in the 2nd quarter, Holdings Channel reports. The fund owned 2,709 shares of the specialty retailer’s stock after selling 3,739 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Alibaba Group were worth $307,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC raised its position in Alibaba Group by 23.6% during the second quarter. Savant Capital LLC now owns 9,734 shares of the specialty retailer’s stock valued at $1,104,000 after buying an additional 1,861 shares during the period. OneAscent Family Office LLC raised its holdings in Alibaba Group by 116.8% during the second quarter. OneAscent Family Office LLC now owns 3,888 shares of the specialty retailer’s stock valued at $441,000 after buying an additional 2,095 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in shares of Alibaba Group by 4.8% in the second quarter. Soltis Investment Advisors LLC now owns 2,215 shares of the specialty retailer’s stock worth $251,000 after buying an additional 101 shares during the last quarter. RD Finance Ltd bought a new position in shares of Alibaba Group in the 2nd quarter valued at approximately $3,408,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Alibaba Group in the 2nd quarter worth approximately $78,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Up 3.1%

NYSE:BABA opened at $162.86 on Thursday. 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 $192.67. The company has a market cap of $388.60 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.40 and a beta of 0.19. The stock’s fifty day moving average price is $166.95 and its two-hundred day moving average price is $136.11.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BABA shares. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Zacks Research lowered Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, October 9th. Nomura raised their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

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.