Envestnet Asset Management Inc. Sells 34,757 Shares of Alibaba Group Holding Limited $BABA

Envestnet Asset Management Inc. trimmed its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 8.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 384,711 shares of the specialty retailer’s stock after selling 34,757 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alibaba Group were worth $43,629,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its stake in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after acquiring an additional 49,010,087 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Temasek Holdings Private Ltd boosted its position in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after buying an additional 1,045,789 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

BABA has been the topic of several research reports. Mizuho set a $195.00 price target on Alibaba Group in a research note on Wednesday, October 22nd. UBS Group restated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Nomura raised their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Bank of America boosted their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Barclays increased their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Down 2.2%

Alibaba Group stock opened at $170.17 on Friday. The firm has a market capitalization of $406.04 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.40 and a beta of 0.18. The company’s 50 day simple moving average is $161.36 and its 200 day simple moving average is $133.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67.

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.