Tandem Capital Management Corp ADV Sells 86 Shares of Alibaba Group Holding Limited $BABA

Tandem Capital Management Corp ADV cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 0.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 26,064 shares of the specialty retailer’s stock after selling 86 shares during the quarter. Alibaba Group accounts for 1.5% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 22nd biggest holding. Tandem Capital Management Corp ADV’s holdings in Alibaba Group were worth $2,956,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. 1248 Management LLC bought a new stake in Alibaba Group during the first quarter worth $26,000. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Alibaba Group in the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after buying an additional 196 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BABA. Jefferies Financial Group lifted their price target on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday. Benchmark lifted their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price target on Alibaba Group from $170.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Buy” and an average price target of $184.19.

Alibaba Group Stock Down 0.1%

NYSE BABA opened at $181.15 on Thursday. The stock’s 50 day moving average is $144.47 and its 200 day moving average is $127.08. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The stock has a market cap of $431.88 billion, a PE ratio of 21.06, a P/E/G ratio of 2.14 and a beta of 0.18.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.