Alibaba Group Holding Limited $BABA Shares Sold by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC lessened its stake in Alibaba Group Holding Limited (NYSE:BABA) by 17.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,770 shares of the specialty retailer’s stock after selling 600 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Alibaba Group were worth $314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BABA. Kingstone Capital Partners Texas LLC lifted its holdings in shares of Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after buying an additional 49,010,087 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock valued at $578,992,000 after buying an additional 4,246,564 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of 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 valued at $1,131,558,000 after buying an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Alibaba Group by 43.0% in the 1st 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. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE:BABA opened at $158.76 on Friday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The stock has a 50 day moving average of $146.36 and a two-hundred day moving average of $127.53. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $378.50 billion, a P/E ratio of 18.46, a price-to-earnings-growth ratio of 2.05 and a beta of 0.18.

Wall Street Analysts Forecast Growth

BABA has been the subject of several recent analyst reports. Citigroup restated a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Zacks Research upgraded Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Robert W. Baird lifted their price target on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Finally, CLSA lifted their price target on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $188.06.

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.