Alibaba Group Holding Limited $BABA Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its stake in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 43.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,535 shares of the specialty retailer’s stock after selling 4,991 shares during the period. Clear Harbor Asset Management LLC’s holdings in Alibaba Group were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC lifted its position in Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares during the last quarter. Norges Bank purchased a new position in shares of Alibaba Group during the second quarter worth about $527,243,000. Assenagon Asset Management S.A. acquired a new stake in shares of Alibaba Group during the second quarter worth about $227,567,000. Alkeon Capital Management LLC purchased a new stake in shares of Alibaba Group in the 2nd quarter valued at about $184,291,000. Finally, Clear Street LLC acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at about $58,503,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 2.3%

Alibaba Group stock opened at $150.93 on Friday. The stock’s 50 day moving average price is $155.81 and its 200 day moving average price is $145.80. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The company has a market cap of $360.14 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.39 and a beta of 0.37. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46.

Key Alibaba Group News

Here are the key news stories impacting Alibaba Group this week:

Wall Street Analysts Forecast Growth

BABA has been the topic of several research analyst reports. Bank of America lifted their price target on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Zacks Research cut shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Freedom Capital downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Arete Research set a $172.00 price target on shares of Alibaba Group in a research note on Tuesday, December 9th. Finally, Arete lowered shares of Alibaba Group from a “buy” rating to a “neutral” rating and set a $172.00 price objective on the stock. in a research note on Tuesday, December 9th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $191.84.

Read Our Latest Stock Analysis on BABA

Alibaba Group Profile

(Free Report)

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

Featured Stories

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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