Concurrent Investment Advisors LLC Sells 501 Shares of Alibaba Group Holding Limited $BABA

Concurrent Investment Advisors LLC decreased its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 7.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,509 shares of the specialty retailer’s stock after selling 501 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alibaba Group were worth $738,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the 1st quarter worth $26,000. Summit Securities Group LLC grew its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new position in Alibaba Group in the first quarter worth about $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after buying an additional 196 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Bank of America raised their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Robert W. Baird boosted their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Benchmark upped their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $188.06.

Alibaba Group Stock Down 0.5%

BABA stock opened at $165.07 on Friday. The company has a market capitalization of $393.54 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.18. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The firm’s fifty day simple moving average is $150.05 and its 200-day simple moving average is $128.42. 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 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.