Alibaba Group Holding Limited (BABA) Position Decreased by Pinnacle Financial Partners Inc.

Pinnacle Financial Partners Inc. decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 44.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,782 shares of the specialty retailer’s stock after selling 2,240 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Alibaba Group Holding Limited were worth $481,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in BABA. FMR LLC raised its position in Alibaba Group Holding Limited by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock worth $3,561,681,000 after acquiring an additional 7,544,165 shares during the period. Fisher Asset Management LLC increased its stake in shares of Alibaba Group Holding Limited by 87.4% in the second quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock worth $1,453,929,000 after purchasing an additional 4,813,431 shares in the last quarter. Third Point LLC purchased a new position in shares of Alibaba Group Holding Limited in the second quarter worth about $634,050,000. Hillhouse Capital Management Ltd. increased its stake in shares of Alibaba Group Holding Limited by 38,449.4% in the second quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock worth $503,076,000 after purchasing an additional 3,561,187 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP increased its stake in shares of Alibaba Group Holding Limited by 37.1% in the third quarter. Boussard & Gavaudan Investment Management LLP now owns 11,598,897 shares of the specialty retailer’s stock worth $1,986,697,000 after purchasing an additional 3,141,790 shares in the last quarter. 37.39% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down $0.81 during mid-day trading on Wednesday, reaching $190.09. 7,740,781 shares of the company traded hands, compared to its average volume of 14,924,906. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $191.56. The stock has a market cap of $486,570.00, a P/E ratio of 54.65, a price-to-earnings-growth ratio of 1.42 and a beta of 2.60. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

Several equities analysts recently commented on the stock. Bank of America Corporation reaffirmed a “buy” rating and set a $200.00 price objective on shares of Alibaba Group Holding Limited in a research note on Monday, October 16th. Needham & Company LLC boosted their price objective on shares of Alibaba Group Holding Limited from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $190.00 price objective (up previously from $165.00) on shares of Alibaba Group Holding Limited in a research note on Friday, August 25th. Vetr cut shares of Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $199.42 price objective for the company. in a research note on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $211.00 price objective for the company in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $184.45.

Alibaba Group Holding Limited Company Profile

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.

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

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