Patient Capital Management LLC Reduces Stock Position in Alibaba Group Holding Limited $BABA

Patient Capital Management LLC trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 489,677 shares of the specialty retailer’s stock after selling 9,433 shares during the period. Alibaba Group makes up 3.5% of Patient Capital Management LLC’s investment portfolio, making the stock its 11th largest holding. Patient Capital Management LLC’s holdings in Alibaba Group were worth $87,520,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BABA. Traphagen Investment Advisors LLC lifted its holdings in shares of Alibaba Group by 2.0% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after buying an additional 59 shares during the period. Richardson Financial Services Inc. lifted its stake in shares of Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 65 shares during the period. Evolution Wealth Advisors LLC boosted its holdings in shares of Alibaba Group by 1.5% in the third quarter. Evolution Wealth Advisors LLC now owns 5,094 shares of the specialty retailer’s stock worth $910,000 after buying an additional 74 shares during the last quarter. Cary Street Partners Financial LLC grew its position in Alibaba Group by 1.8% during the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock valued at $539,000 after buying an additional 83 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in Alibaba Group by 10.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 921 shares of the specialty retailer’s stock valued at $165,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Arete Research set a $190.00 price objective on shares of Alibaba Group in a research report on Tuesday. Barclays lifted their target price on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Mizuho set a $195.00 price target on Alibaba Group in a research report on Wednesday, October 22nd. Freedom Capital downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Finally, Rosenblatt Securities set a $195.00 price objective on Alibaba Group in a research note on Wednesday, November 26th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $191.63.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $162.15 on Wednesday. The company has a market capitalization of $387.13 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 3.56 and a beta of 0.37. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The stock’s 50-day simple moving average is $156.02 and its 200-day simple moving average is $148.93. Alibaba Group Holding Limited has a 52 week low of $84.42 and a 52 week high of $192.67.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.