Waterfront Wealth Inc. Sells 9,681 Shares of Alibaba Group Holding Limited $BABA

Waterfront Wealth Inc. lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 55.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,815 shares of the specialty retailer’s stock after selling 9,681 shares during the quarter. Waterfront Wealth Inc.’s holdings in Alibaba Group were worth $1,294,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in shares of Alibaba Group during the third quarter valued at approximately $30,000. NBT Bank N A NY grew its stake in Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares in the last quarter. Rosenberg Matthew Hamilton bought a new stake in Alibaba Group in the 2nd quarter valued at $26,000. Richardson Financial Services Inc. lifted its stake in Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 65 shares in the last quarter. Finally, MMA Asset Management LLC bought a new position in shares of Alibaba Group during the 3rd quarter valued at about $51,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of BABA stock opened at $162.57 on Monday. The business’s fifty day simple moving average is $158.99 and its 200-day simple moving average is $154.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The company has a market cap of $388.12 billion, a PE ratio of 22.45, a PEG ratio of 3.55 and a beta of 0.39.

Analyst Ratings Changes

A number of equities research analysts recently commented on BABA shares. JPMorgan Chase & Co. decreased their target price on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, January 21st. Macquarie Infrastructure restated an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Nomura boosted their price objective on Alibaba Group from $193.00 to $237.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Barclays upped their target price on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Eighteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $195.17.

Alibaba Group Company Profile

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.