Pinebridge Investments L.P. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,260 shares of the specialty retailer’s stock after selling 5,102 shares during the period. Pinebridge Investments L.P.’s holdings in Alibaba Group Holding Limited were worth $23,426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Capital Growth Management LP acquired a new position in shares of Alibaba Group Holding Limited during the second quarter worth $56,783,000. Ativo Capital Management LLC increased its holdings in shares of Alibaba Group Holding Limited by 327.8% during the second quarter. Ativo Capital Management LLC now owns 72,526 shares of the specialty retailer’s stock worth $10,219,000 after buying an additional 55,574 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Alibaba Group Holding Limited by 5.4% during the second quarter. UBS Asset Management Americas Inc. now owns 12,234,002 shares of the specialty retailer’s stock worth $1,723,771,000 after buying an additional 626,446 shares in the last quarter. Nicholas Investment Partners LP increased its holdings in shares of Alibaba Group Holding Limited by 25.4% during the second quarter. Nicholas Investment Partners LP now owns 24,041 shares of the specialty retailer’s stock worth $3,388,000 after buying an additional 4,871 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in shares of Alibaba Group Holding Limited by 15.1% during the second quarter. Lazard Asset Management LLC now owns 2,010,808 shares of the specialty retailer’s stock worth $283,321,000 after buying an additional 263,886 shares in the last quarter. Institutional investors and hedge funds own 37.38% of the company’s stock.

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 0.03% during mid-day trading on Tuesday, reaching $179.92. 8,396,413 shares of the company’s stock traded hands. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $180.87. The firm’s 50-day moving average is $165.84 and its 200 day moving average is $135.13. The firm has a market cap of $457.54 billion, a price-to-earnings ratio of 60.40 and a beta of 2.62.

Alibaba Group Holding Limited (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.21. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same period in the prior year, the company earned $0.74 earnings per share. Analysts predict that Alibaba Group Holding Limited will post $5.04 earnings per share for the current year.

BABA has been the subject of several research analyst reports. Vetr upgraded shares of Alibaba Group Holding Limited from a “hold” rating to a “buy” rating and set a $180.41 price target for the company in a report on Monday, August 28th. Stifel Nicolaus increased their price objective on Alibaba Group Holding Limited from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 21st. BidaskClub downgraded Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. increased their price objective on Alibaba Group Holding Limited to $200.00 and gave the company an “outperform” rating in a report on Sunday, September 3rd. Finally, Goldman Sachs Group, Inc. (The) set a $179.00 price objective on Alibaba Group Holding Limited and gave the company a “buy” rating in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $169.20.

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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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