Alibaba Group Holding Limited $BABA Shares Sold by CI Investments Inc.

CI Investments Inc. trimmed its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 507,543 shares of the specialty retailer’s stock after selling 5,912 shares during the period. CI Investments Inc.’s holdings in Alibaba Group were worth $90,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. acquired a new stake in shares of Alibaba Group during the third quarter worth about $30,000. NBT Bank N A NY grew its stake in Alibaba Group by 231.5% during the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after buying an additional 125 shares during the last quarter. NewSquare Capital LLC increased its position in Alibaba Group by 65.0% during the second quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock worth $37,000 after buying an additional 130 shares during the period. Elkhorn Partners Limited Partnership lifted its stake in Alibaba Group by 33.3% in the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 100 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Alibaba Group by 34.4% in the third quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 65 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Down 1.1%

Alibaba Group stock opened at $142.55 on Tuesday. The stock’s 50 day moving average price is $158.95 and its 200 day moving average price is $157.90. Alibaba Group Holding Limited has a 1-year low of $95.73 and a 1-year high of $192.67. The company has a market cap of $340.33 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 3.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BABA. Nomura lifted their target price on shares of Alibaba Group from $193.00 to $237.00 and gave the company a “buy” rating in a report on Monday, January 26th. Benchmark restated a “buy” rating and issued a $195.00 price objective on shares of Alibaba Group in a research note on Tuesday, November 25th. Citigroup upped their target price on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Arete Research raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Wednesday, January 21st. Finally, Wall Street Zen cut Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Sixteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $195.17.

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.