Loomis Sayles & Co. L P Lowers Stock Position in Alibaba Group Holding Limited $BABA

Loomis Sayles & Co. L P cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 35.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,510,190 shares of the specialty retailer’s stock after selling 1,388,995 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.11% of Alibaba Group worth $284,681,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Tejara Capital Ltd purchased a new stake in shares of Alibaba Group in the 2nd quarter worth approximately $1,644,000. Norges Bank bought a new stake in Alibaba Group in the second quarter worth $527,243,000. Quadrature Capital Ltd purchased a new stake in shares of Alibaba Group in the second quarter worth $13,094,000. Scotia Capital Inc. increased its holdings in shares of Alibaba Group by 37.1% during the second quarter. Scotia Capital Inc. now owns 40,868 shares of the specialty retailer’s stock valued at $4,635,000 after acquiring an additional 11,052 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Alibaba Group by 4.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 72,715 shares of the specialty retailer’s stock worth $8,247,000 after purchasing an additional 2,793 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on BABA shares. Mizuho set a $195.00 price objective on shares of Alibaba Group in a research report on Wednesday, October 22nd. Bank of America upped their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Benchmark reissued a “buy” rating and set a $195.00 price target on shares of Alibaba Group in a research report on Tuesday. Citigroup boosted their price objective on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. cut their target price on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday. One research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.89.

Alibaba Group Trading Down 0.3%

Shares of BABA stock opened at $157.19 on Friday. 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 12-month low of $80.06 and a 12-month high of $192.67. The stock has a market capitalization of $375.06 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.40 and a beta of 0.19. The firm’s 50 day moving average is $168.30 and its 200 day moving average is $138.80.

Alibaba Group Company 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.