Thornburg Investment Management Inc. Sells 9,622 Shares of Alibaba Group Holding Limited $BABA

Thornburg Investment Management Inc. decreased its position in Alibaba Group Holding Limited (NYSE:BABA) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 484,152 shares of the specialty retailer’s stock after selling 9,622 shares during the period. Thornburg Investment Management Inc.’s holdings in Alibaba Group were worth $54,908,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new position in shares of Alibaba Group in the first quarter valued at $26,000. Summit Securities Group LLC increased its holdings in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of Alibaba Group during the 2nd quarter worth about $26,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Performance

NYSE:BABA opened at $157.02 on Wednesday. The stock has a market capitalization of $374.67 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The firm has a 50 day moving average of $168.67 and a 200-day moving average of $138.36.

Analyst Ratings Changes

BABA has been the topic of a number of analyst reports. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Nomura lifted their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. UBS Group reiterated a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Mizuho set a $195.00 target price on Alibaba Group in a research report on Wednesday, October 22nd. Finally, Macquarie reaffirmed an “outperform” rating on shares of Alibaba Group in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $190.17.

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.