Highland Capital Management LLC Has $549,000 Holdings in Alibaba Group Holding Limited $BABA

Highland Capital Management LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,840 shares of the specialty retailer’s stock after selling 100 shares during the quarter. Highland Capital Management LLC’s holdings in Alibaba Group were worth $549,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Temasek Holdings Private Ltd lifted its stake in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after acquiring an additional 1,045,789 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock worth $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC grew its position in Alibaba Group by 42.6% during the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock valued at $179,305,000 after purchasing an additional 404,842 shares in the last quarter. WCM Investment Management LLC acquired a new position in Alibaba Group in the 1st quarter valued at approximately $4,074,000. Finally, KMG Fiduciary Partners LLC purchased a new stake in Alibaba Group in the 1st quarter worth approximately $1,948,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of a number of research reports. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Mizuho upped their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. Bank of America boosted their price target on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Barclays raised their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $181.88.

Alibaba Group Stock Down 0.7%

Shares of BABA stock opened at $187.94 on Monday. The stock’s 50 day simple moving average is $140.65 and its 200 day simple moving average is $125.96. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.22 and a beta of 0.18.

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.