Bogart Wealth LLC Sells 228 Shares of Alibaba Group Holding Limited $BABA

Bogart Wealth LLC lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 38.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 367 shares of the specialty retailer’s stock after selling 228 shares during the period. Bogart Wealth LLC’s holdings in Alibaba Group were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC raised its position in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the first quarter valued at $26,000. 1248 Management LLC bought a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group during the 2nd quarter worth about $26,000. 13.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Wall Street Zen downgraded Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. UBS Group reissued a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Finally, Susquehanna upped their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $188.06.

Alibaba Group Trading Down 3.9%

Shares of BABA stock opened at $166.77 on Wednesday. The stock’s fifty day simple moving average is $152.97 and its 200 day simple moving average is $129.30. 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 $397.60 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.32 and a beta of 0.18.

About Alibaba Group

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.