Bailard Inc. Sells 2,500 Shares of Alibaba Group Holding Limited $BABA

Bailard Inc. lowered its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 24.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,765 shares of the specialty retailer’s stock after selling 2,500 shares during the period. Bailard Inc.’s holdings in Alibaba Group were worth $881,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in shares of Alibaba Group by 7.4% during the second quarter. PNC Financial Services Group Inc. now owns 45,536 shares of the specialty retailer’s stock valued at $5,164,000 after buying an additional 3,133 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Alibaba Group by 53.1% during the second quarter. Jupiter Asset Management Ltd. now owns 117,722 shares of the specialty retailer’s stock valued at $13,351,000 after acquiring an additional 40,814 shares in the last quarter. Turn8 Private Wealth Inc. lifted its stake in Alibaba Group by 276.4% in the 2nd quarter. Turn8 Private Wealth Inc. now owns 20,704 shares of the specialty retailer’s stock worth $2,441,000 after purchasing an additional 15,204 shares in the last quarter. Boston Partners boosted its holdings in shares of Alibaba Group by 120.4% during the 2nd quarter. Boston Partners now owns 49,989 shares of the specialty retailer’s stock valued at $5,669,000 after purchasing an additional 27,312 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new position in shares of Alibaba Group during the second quarter valued at about $7,796,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. 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 report on Wednesday, September 24th. Sanford C. Bernstein upped their price objective on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Susquehanna increased their target price on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. One investment 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Trading Up 1.4%

Shares of BABA opened at $160.06 on Friday. The company’s fifty day simple moving average is $167.53 and its 200-day simple moving average is $136.28. The company has a market cap of $381.92 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67.

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.