Alibaba Group Holding Limited $BABA Shares Sold by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC cut its stake in Alibaba Group Holding Limited (NYSE:BABA) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,915 shares of the specialty retailer’s stock after selling 425 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Alibaba Group were worth $444,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Alibaba Group in the first quarter valued at $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC increased its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares during 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 commented on the company. Nomura increased their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. UBS Group restated a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Mizuho set a $195.00 price target on shares of Alibaba Group in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Up 1.5%

NYSE:BABA opened at $160.05 on Wednesday. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $381.89 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The stock’s 50 day moving average price is $168.49 and its two-hundred day moving average price is $137.27.

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.