Adalta Capital Management LLC cut its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,000 shares of the specialty retailer’s stock after selling 1,500 shares during the quarter. Alibaba Group comprises about 2.5% of Adalta Capital Management LLC’s holdings, making the stock its 18th largest position. Adalta Capital Management LLC’s holdings in Alibaba Group were worth $3,276,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of BABA. Ark Investment Management LLC boosted its stake in Alibaba Group by 18.6% during the second quarter. Ark Investment Management LLC now owns 55,464 shares of the specialty retailer’s stock worth $7,815,000 after acquiring an additional 8,696 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Alibaba Group by 14.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 223,963 shares of the specialty retailer’s stock worth $38,681,000 after acquiring an additional 28,271 shares in the last quarter. Stevens Capital Management LP bought a new position in Alibaba Group during the third quarter worth $246,000. Gabelli Funds LLC boosted its stake in Alibaba Group by 7.7% during the third quarter. Gabelli Funds LLC now owns 14,000 shares of the specialty retailer’s stock worth $2,418,000 after acquiring an additional 1,000 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new position in Alibaba Group during the third quarter worth $104,000. Institutional investors own 37.76% of the company’s stock.
Shares of Alibaba Group Holding Ltd (NYSE:BABA) opened at $192.74 on Tuesday. Alibaba Group Holding Ltd has a 1-year low of $102.60 and a 1-year high of $206.20. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.29. The stock has a market cap of $493,640.00, a PE ratio of 47.36, a P/E/G ratio of 1.54 and a beta of 2.57.
Several research analysts recently issued reports on the stock. Vetr raised shares of Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $211.39 target price on the stock in a research note on Tuesday, February 27th. Sanford C. Bernstein reissued an “outperform” rating and set a $230.00 target price (up from $205.00) on shares of Alibaba Group in a research note on Monday, February 5th. Deutsche Bank increased their target price on shares of Alibaba Group to $218.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Robert W. Baird increased their target price on shares of Alibaba Group to $220.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Susquehanna Bancshares assumed coverage on shares of Alibaba Group in a research note on Wednesday, December 6th. They set a “positive” rating and a $220.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $211.22.
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About Alibaba Group
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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