Quintet Private Bank Europe S.A. Cuts Stock Position in Alibaba Group Holding Limited $BABA

Quintet Private Bank Europe S.A. cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 58,984 shares of the specialty retailer’s stock after selling 4,844 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Alibaba Group were worth $10,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Financial LLC lifted its stake in shares of Alibaba Group by 1.8% in the 2nd quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock worth $539,000 after acquiring an additional 83 shares during the period. Wedbush Securities Inc. increased its stake in shares of Alibaba Group by 2.1% during the second quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock worth $480,000 after acquiring an additional 88 shares during the period. CWM LLC raised its holdings in Alibaba Group by 0.8% during the second quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after purchasing an additional 92 shares in the last quarter. Fifth Third Bancorp raised its holdings in Alibaba Group by 1.0% during the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after purchasing an additional 94 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its position in Alibaba Group by 4.7% in the second quarter. Centaurus Financial Inc. now owns 2,103 shares of the specialty retailer’s stock valued at $238,000 after purchasing an additional 94 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Arete Research set a $172.00 price objective on Alibaba Group in a research report on Tuesday, December 9th. Wall Street Zen lowered shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Benchmark reaffirmed a “buy” rating and set a $195.00 price target on shares of Alibaba Group in a research note on Tuesday, November 25th. Finally, Zacks Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Seventeen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

Alibaba Group Stock Down 0.4%

BABA opened at $149.50 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $356.72 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.30 and a beta of 0.33. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The business’s fifty day moving average is $163.22 and its two-hundred day moving average is $141.96.

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.