Assenagon Asset Management S.A. Cuts Holdings in Alibaba Group Holding Limited $BABA

Assenagon Asset Management S.A. lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 27.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,455,479 shares of the specialty retailer’s stock after selling 551,112 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Alibaba Group were worth $260,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new position in shares of Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC increased its position in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. Rosenberg Matthew Hamilton purchased a new position in Alibaba Group in the second quarter valued at approximately $26,000. Finally, NewSquare Capital LLC lifted its position in Alibaba Group by 65.0% during the second quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 130 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of BABA stock opened at $149.50 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The company’s fifty day moving average price is $163.22 and its two-hundred day moving average price is $141.96. The firm has a market capitalization of $356.72 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.30 and a beta of 0.33. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Arete cut shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $172.00 price target for the company. in a research report on Tuesday, December 9th. Wall Street Zen downgraded Alibaba Group from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Arete Research set a $172.00 price objective on Alibaba Group in a research report on Tuesday, December 9th. Finally, Robert W. Baird boosted their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Seventeen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

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.