Alibaba Group Holding Limited $BABA Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 21.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 42,583 shares of the specialty retailer’s stock after selling 11,958 shares during the quarter. NewEdge Wealth LLC’s holdings in Alibaba Group were worth $7,018,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mather Group LLC. purchased a new position in Alibaba Group in the third quarter worth $30,000. NBT Bank N A NY raised its position 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 worth $32,000 after acquiring an additional 125 shares during the last quarter. NewSquare Capital LLC raised its position in shares of 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 purchasing an additional 130 shares during the last quarter. Elkhorn Partners Limited Partnership raised its holdings in shares of Alibaba Group by 33.3% in the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 100 shares during the last quarter. Finally, Richardson Financial Services Inc. lifted its holdings in Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 65 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on BABA shares. Macquarie Infrastructure reissued an “outperform” rating on shares of Alibaba Group in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, January 21st. Freedom Capital downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Alibaba Group in a research note on Tuesday, November 25th. Finally, Loop Capital set a $140.00 price target on Alibaba Group in a report on Tuesday, January 6th. Seventeen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Trading Down 0.9%

NYSE:BABA opened at $154.35 on Friday. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The firm has a market capitalization of $368.50 billion, a P/E ratio of 21.32, a P/E/G ratio of 3.41 and a beta of 0.39. 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 business has a 50 day simple moving average of $159.00 and a 200 day simple moving average of $155.98.

About Alibaba Group

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.