Dragoneer Investment Group LLC reduced its stake in Alibaba Group Holding Ltd (NYSE:BABA) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,213 shares of the specialty retailer’s stock after selling 70,632 shares during the period. Alibaba Group Holding makes up about 4.7% of Dragoneer Investment Group LLC’s investment portfolio, making the stock its 9th largest position. Dragoneer Investment Group LLC’s holdings in Alibaba Group Holding were worth $26,657,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Webster Bank N. A. increased its stake in shares of Alibaba Group Holding by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 235 shares in the last quarter. WFG Advisors LP increased its stake in shares of Alibaba Group Holding by 5.3% in the first quarter. WFG Advisors LP now owns 1,180 shares of the specialty retailer’s stock valued at $127,000 after buying an additional 59 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in shares of Alibaba Group Holding by 10.1% in the first quarter. Thompson Davis & CO. Inc. now owns 1,360 shares of the specialty retailer’s stock valued at $147,000 after buying an additional 125 shares in the last quarter. FTB Advisors Inc. increased its stake in shares of Alibaba Group Holding by 190.3% in the first quarter. FTB Advisors Inc. now owns 1,582 shares of the specialty retailer’s stock valued at $178,000 after buying an additional 1,037 shares in the last quarter. Finally, Glassman Wealth Services increased its stake in shares of Alibaba Group Holding by 450.8% in the first quarter. Glassman Wealth Services now owns 1,735 shares of the specialty retailer’s stock valued at $187,000 after buying an additional 1,420 shares in the last quarter. Institutional investors own 36.64% of the company’s stock.

Alibaba Group Holding Ltd (NYSE:BABA) traded up 0.01% on Friday, reaching $153.33. 10,029,000 shares of the company were exchanged. The stock has a market capitalization of $387.92 billion, a price-to-earnings ratio of 61.09 and a beta of 2.64. Alibaba Group Holding Ltd has a 52 week low of $83.17 and a 52 week high of $160.39. The stock has a 50-day moving average price of $146.12 and a 200 day moving average price of $119.67.

Alibaba Group Holding (NYSE:BABA) last issued its quarterly earnings data 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. Alibaba Group Holding had a return on equity of 15.74% and a net margin of 29.28%. The business had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the business posted $0.47 earnings per share. Analysts forecast that Alibaba Group Holding Ltd will post $4.56 earnings per share for the current year.

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

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Several equities analysts have recently weighed in on the company. Barclays PLC increased their price target on Alibaba Group Holding to $180.00 and gave the company an “overweight” rating in a report on Wednesday. BidaskClub cut Alibaba Group Holding from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. HSBC Holdings plc reissued a “buy” rating and set a $168.00 price target (up from $162.00) on shares of Alibaba Group Holding in a report on Saturday, July 22nd. Instinet reaffirmed a “buy” rating on shares of Alibaba Group Holding in a report on Saturday, July 22nd. Finally, Atlantic Securities reaffirmed a “hold” rating on shares of Alibaba Group Holding in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $140.99.

About Alibaba Group Holding

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.

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

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