Evelyn Partners Investment Management LLP Sells 31,414 Shares of Alibaba Group Holding Limited $BABA

Evelyn Partners Investment Management LLP cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 72.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,770 shares of the specialty retailer’s stock after selling 31,414 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Alibaba Group were worth $1,335,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Accent Capital Management LLC grew its stake in shares of Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after acquiring an additional 82 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Alibaba Group by 2.1% during the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock valued at $480,000 after buying an additional 88 shares during the period. CWM LLC boosted its stake in shares of Alibaba Group by 0.8% in the 2nd quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after buying an additional 92 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after acquiring an additional 94 shares during the period. Finally, EWG Elevate Inc. increased its position in Alibaba Group by 5.2% during the second quarter. EWG Elevate Inc. now owns 1,977 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. UBS Group reissued a “buy” rating and issued a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Mizuho set a $195.00 target price on shares of Alibaba Group in a report on Wednesday, October 22nd. Zacks Research cut shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Susquehanna upped their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Trading Down 0.1%

Shares of BABA stock opened at $153.08 on Friday. 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 stock has a fifty day simple moving average of $168.71 and a two-hundred day simple moving average of $137.72. The firm has a market capitalization of $365.26 billion, a PE ratio of 17.80, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67.

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.