Summit Place Financial Advisors LLC Reduces Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Summit Place Financial Advisors LLC decreased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 29.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,170 shares of the specialty retailer’s stock after selling 1,355 shares during the quarter. Summit Place Financial Advisors LLC’s holdings in Alibaba Group were worth $269,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in BABA. Assenagon Asset Management S.A. grew its holdings in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after purchasing an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. grew its holdings in shares of Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the last quarter. FMR LLC grew its holdings in shares of Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $127.18 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $92.64 and a 200-day moving average of $91.88. Alibaba Group Holding Limited has a 12-month low of $68.36 and a 12-month high of $129.02. The company has a market cap of $302.53 billion, a price-to-earnings ratio of 25.80, a PEG ratio of 0.42 and a beta of 0.31.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BABA. Robert W. Baird raised their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Mizuho raised their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Benchmark reissued a “buy” rating and set a $118.00 price target on shares of Alibaba Group in a report on Friday, November 15th. StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Citigroup raised their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $115.86.

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.