Artisan Partners Limited Partnership cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,601,471 shares of the specialty retailer’s stock after selling 502,944 shares during the period. Alibaba Group Holding Limited accounts for about 2.0% of Artisan Partners Limited Partnership’s investment portfolio, making the stock its 6th biggest holding. Artisan Partners Limited Partnership owned 0.30% of Alibaba Group Holding Limited worth $1,071,047,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS Asset Management Americas Inc. raised its stake in Alibaba Group Holding Limited by 14.2% in the first quarter. UBS Asset Management Americas Inc. now owns 11,607,556 shares of the specialty retailer’s stock valued at $1,251,643,000 after buying an additional 1,440,476 shares during the period. Gabelli Funds LLC bought a new stake in Alibaba Group Holding Limited in the first quarter valued at approximately $1,186,000. Teza Capital Management LLC bought a new stake in Alibaba Group Holding Limited in the first quarter valued at approximately $754,000. LLBH Private Wealth Management LLC bought a new stake in Alibaba Group Holding Limited in the first quarter valued at approximately $212,000. Finally, Handelsinvest Investeringsforvaltning raised its stake in Alibaba Group Holding Limited by 24.1% in the first quarter. Handelsinvest Investeringsforvaltning now owns 59,050 shares of the specialty retailer’s stock valued at $6,368,000 after buying an additional 11,450 shares during the period. 37.40% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Holding Limited (NYSE:BABA) traded down 0.23% during midday trading on Friday, hitting $176.70. The company had a trading volume of 26,567,550 shares. The firm has a market capitalization of $449.35 billion, a P/E ratio of 59.32 and a beta of 2.62. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $179.93. The firm’s 50 day moving average is $165.20 and its 200-day moving average is $134.13.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.21. Alibaba Group Holding Limited had a net margin of 28.77% and a return on equity of 16.85%. The business had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.16 billion. During the same period in the prior year, the business posted $0.74 earnings per share. On average, equities research analysts expect that Alibaba Group Holding Limited will post $5.04 EPS for the current fiscal year.

Several analysts have issued reports on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $190.00 price objective (up previously from $165.00) on shares of Alibaba Group Holding Limited in a research note on Friday, August 25th. Royal Bank Of Canada upped their price objective on Alibaba Group Holding Limited from $160.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded Alibaba Group Holding Limited from a “hold” rating to a “strong-buy” rating and set a $157.00 price objective on the stock in a research note on Thursday, June 15th. Macquarie upped their price objective on Alibaba Group Holding Limited from $171.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. Finally, Bank of America Corporation restated a “buy” rating and issued a $161.00 price objective (up previously from $144.00) on shares of Alibaba Group Holding Limited in a research note on Sunday, June 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. Alibaba Group Holding Limited currently has an average rating of “Buy” and an average target price of $169.20.

ILLEGAL ACTIVITY WARNING: “Alibaba Group Holding Limited (BABA) Position Reduced by Artisan Partners Limited Partnership” was reported by Daily Political and is owned by of Daily Political. If you are viewing this report on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/09/17/alibaba-group-holding-limited-baba-position-reduced-by-artisan-partners-limited-partnership.html.

Alibaba Group Holding Limited Profile

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with MarketBeat.com's FREE daily email newsletter.