ARGA Investment Management LP lowered its position in Alibaba Group Holding Limited (NYSE:BABA) by 80.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,900 shares of the specialty retailer’s stock after selling 255,100 shares during the period. Alibaba Group Holding Limited comprises 1.2% of ARGA Investment Management LP’s holdings, making the stock its 10th largest position. ARGA Investment Management LP’s holdings in Alibaba Group Holding Limited were worth $8,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BABA. Shine Investment Advisory Services Inc. purchased a new stake in Alibaba Group Holding Limited during the second quarter worth about $102,000. FNY Managed Accounts LLC purchased a new stake in Alibaba Group Holding Limited during the first quarter worth about $107,000. Lee Financial Co boosted its stake in Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares in the last quarter. Winch Advisory Services LLC boosted its stake in Alibaba Group Holding Limited by 147.4% in the second quarter. Winch Advisory Services LLC now owns 809 shares of the specialty retailer’s stock worth $114,000 after buying an additional 482 shares in the last quarter. Finally, Webster Bank N. A. boosted its stake in Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock worth $127,000 after buying an additional 235 shares in the last quarter. Institutional investors own 37.40% of the company’s stock.

Alibaba Group Holding Limited (NYSE:BABA) traded up 0.3899% on Thursday, reaching $171.9177. The company’s stock had a trading volume of 3,267,469 shares. The company has a market cap of $437.19 billion, a P/E ratio of 58.3365 and a beta of 2.64. Alibaba Group Holding Limited has a 52-week low of $86.01 and a 52-week high of $177.00. The firm’s 50-day moving average price is $156.44 and its 200 day moving average price is $127.15.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The company had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same period in the previous year, the business earned $0.74 EPS. Equities analysts anticipate that Alibaba Group Holding Limited will post $5.05 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has authorized a share repurchase program on Thursday, May 18th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the specialty retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms have recently issued reports on BABA. Vetr cut Alibaba Group Holding Limited from a “buy” rating to a “hold” rating and set a $178.60 price objective on the stock. in a research report on Tuesday, August 22nd. Needham & Company LLC upped their price target on Alibaba Group Holding Limited from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Royal Bank Of Canada upped their price target on Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, August 18th. KeyCorp set a $182.00 price target on Alibaba Group Holding Limited and gave the company an “overweight” rating in a research report on Friday, August 18th. Finally, Robert W. Baird upped their price target on Alibaba Group Holding Limited from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. Alibaba Group Holding Limited has an average rating of “Buy” and a consensus target price of $168.76.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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

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