Traveka Wealth LLC Sells 820 Shares of Alibaba Group Holding Limited $BABA

Traveka Wealth LLC cut its position in Alibaba Group Holding Limited (NYSE:BABA) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the specialty retailer’s stock after selling 820 shares during the quarter. Traveka Wealth LLC’s holdings in Alibaba Group were worth $336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BABA. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after buying an additional 981 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Alibaba Group in the fourth quarter valued at $289,000. Marcum Wealth LLC grew its stake in shares of Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock valued at $363,000 after buying an additional 86 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Alibaba Group by 13,483.0% in the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer’s stock valued at $2,640,000 after buying an additional 19,820 shares in the last quarter. Finally, Meyer Handelman Co. bought a new position in shares of Alibaba Group in the first quarter valued at $264,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 0.6%

BABA opened at $175.42 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $180.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market capitalization of $418.21 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.17 and a beta of 0.11. The stock has a fifty day moving average of $133.34 and a 200-day moving average of $124.47.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Mizuho raised their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Jefferies Financial Group raised their price target on Alibaba Group from $165.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, September 10th. Benchmark raised their price target on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a report on Wednesday, September 3rd. Finally, UBS Group reaffirmed a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a report on Sunday, August 31st. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Alibaba Group has an average rating of “Buy” and a consensus price target of $172.81.

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.