Skandinaviska Enskilda Banken AB publ reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 11.2% during the first quarter, Holdings Channel reports. The institutional investor owned 154,955 shares of the specialty retailer’s stock after selling 19,599 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Alibaba Group Holding Limited were worth $16,709,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. WCM Investment Management CA increased its stake in shares of Alibaba Group Holding Limited by 7.2% in the first quarter. WCM Investment Management CA now owns 80,179 shares of the specialty retailer’s stock worth $8,646,000 after buying an additional 5,420 shares during the period. Sheets Smith Wealth Management bought a new stake in shares of Alibaba Group Holding Limited during the first quarter worth about $415,000. Raymond James Trust N.A. increased its stake in shares of Alibaba Group Holding Limited by 0.9% in the first quarter. Raymond James Trust N.A. now owns 11,220 shares of the specialty retailer’s stock worth $1,210,000 after buying an additional 98 shares during the period. Genesis Asset Managers LLP increased its stake in shares of Alibaba Group Holding Limited by 31.8% in the first quarter. Genesis Asset Managers LLP now owns 4,304,883 shares of the specialty retailer’s stock worth $464,196,000 after buying an additional 1,037,631 shares during the period. Finally, Rathbone Brothers plc increased its stake in shares of Alibaba Group Holding Limited by 6.2% in the first quarter. Rathbone Brothers plc now owns 32,038 shares of the specialty retailer’s stock worth $3,455,000 after buying an additional 1,867 shares during the period. Institutional investors own 36.24% of the company’s stock.

Alibaba Group Holding Limited (NYSE:BABA) opened at 151.23 on Tuesday. The stock has a 50 day moving average of $130.82 and a 200 day moving average of $110.09. Alibaba Group Holding Limited has a 12-month low of $80.60 and a 12-month high of $153.70. The firm has a market capitalization of $382.61 billion, a price-to-earnings ratio of 60.49 and a beta of 2.62.

Alibaba Group Holding Limited (NYSE:BABA) last announced its quarterly earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.01. The business had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.26 billion. Alibaba Group Holding Limited had a net margin of 27.51% and a return on equity of 15.40%. During the same period last year, the firm earned $0.47 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post $4.57 earnings per share for the current year.

Alibaba Group Holding Limited announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 18th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities research analysts have issued reports on the company. Atlantic Securities restated a “hold” rating on shares of Alibaba Group Holding Limited in a research report on Friday. Vetr downgraded Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $160.50 price objective on the stock. in a research report on Wednesday, July 5th. Barclays PLC upped their price objective on Alibaba Group Holding Limited from $141.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, June 27th. J P Morgan Chase & Co assumed coverage on Alibaba Group Holding Limited in a research report on Tuesday, June 27th. They set an “overweight” rating and a $190.00 price objective on the stock. Finally, Robert W. Baird restated an “outperform” rating and set a $170.00 price objective on shares of Alibaba Group Holding Limited in a research report on Thursday, June 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. Alibaba Group Holding Limited currently has an average rating of “Buy” and a consensus price target of $140.69.

About Alibaba Group Holding Limited

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

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Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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