Commonwealth Equity Services LLC Lowers Stock Holdings in Alibaba Group Holding Limited $BABA

Commonwealth Equity Services LLC lowered its holdings in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 13.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 97,360 shares of the specialty retailer’s stock after selling 15,404 shares during the period. Commonwealth Equity Services LLC’s holdings in Alibaba Group were worth $17,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. acquired a new stake in Alibaba Group in the 3rd quarter valued at about $30,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter worth approximately $26,000. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the first quarter valued at approximately $26,000. Rosenberg Matthew Hamilton acquired a new position in Alibaba Group during the 2nd quarter worth approximately $26,000. Finally, NewSquare Capital LLC grew its holdings in Alibaba Group by 65.0% during the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 130 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Down 2.3%

Shares of NYSE:BABA opened at $150.93 on Friday. The company has a market cap of $360.14 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 2.39 and a beta of 0.37. The firm’s 50-day simple moving average is $155.81 and its 200-day simple moving average is $145.80. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BABA shares. Arete Research set a $172.00 price objective on shares of Alibaba Group in a research report on Tuesday, December 9th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. CLSA increased their price objective on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Nomura boosted their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on 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 Research Report on BABA

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About Alibaba Group

(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.

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

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