Alibaba Group Holding Limited $BABA Stake Cut by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 87.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,604 shares of the specialty retailer’s stock after selling 87,529 shares during the period. Pinnacle Associates Ltd.’s holdings in Alibaba Group were worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BABA. Brighton Jones LLC lifted its stake in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after acquiring an additional 981 shares in the last quarter. Private Trust Co. NA lifted its stake in Alibaba Group by 158.7% in the 1st quarter. Private Trust Co. NA now owns 3,428 shares of the specialty retailer’s stock worth $453,000 after acquiring an additional 2,103 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Alibaba Group by 248.5% in the 1st quarter. D.A. Davidson & CO. now owns 13,763 shares of the specialty retailer’s stock worth $1,820,000 after acquiring an additional 9,814 shares in the last quarter. Calamos Advisors LLC lifted its stake in Alibaba Group by 42.5% in the 1st quarter. Calamos Advisors LLC now owns 66,465 shares of the specialty retailer’s stock worth $8,789,000 after acquiring an additional 19,828 shares in the last quarter. Finally, Olde Wealth Management LLC purchased a new stake in Alibaba Group in the 1st quarter worth about $59,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $170.17 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $406.04 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.40 and a beta of 0.18. The business’s 50-day simple moving average is $161.36 and its 200-day simple moving average is $133.46. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BABA. UBS Group reaffirmed a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Barclays raised their price target on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Robert W. Baird raised their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Erste Group Bank raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Company 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.