Summit Place Financial Advisors LLC Lowers Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Summit Place Financial Advisors LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA) by 29.9% in the 4th quarter, Holdings Channel reports. The fund owned 3,170 shares of the specialty retailer’s stock after selling 1,355 shares during the period. Summit Place Financial Advisors LLC’s holdings in Alibaba Group were worth $269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in shares of Alibaba Group by 68.1% during the 4th quarter. Global Retirement Partners LLC now owns 6,689 shares of the specialty retailer’s stock valued at $567,000 after buying an additional 2,711 shares during the period. Mcdonald Partners LLC grew its stake in shares of Alibaba Group by 5.2% during the 4th quarter. Mcdonald Partners LLC now owns 8,542 shares of the specialty retailer’s stock valued at $724,000 after buying an additional 419 shares during the period. Atria Wealth Solutions Inc. grew its stake in shares of Alibaba Group by 52.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 36,258 shares of the specialty retailer’s stock valued at $3,074,000 after buying an additional 12,452 shares during the period. Pittenger & Anderson Inc. purchased a new stake in shares of Alibaba Group during the 4th quarter valued at $1,564,000. Finally, NTV Asset Management LLC grew its stake in shares of Alibaba Group by 8.5% during the 4th quarter. NTV Asset Management LLC now owns 3,850 shares of the specialty retailer’s stock valued at $326,000 after buying an additional 300 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BABA has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Mizuho lifted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird lifted their target price on shares of Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Citigroup lifted their target price on shares of Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

Alibaba Group Stock Performance

Shares of BABA stock opened at $127.18 on Wednesday. Alibaba Group Holding Limited has a 12 month low of $68.36 and a 12 month high of $129.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $302.53 billion, a P/E ratio of 25.80, a P/E/G ratio of 0.42 and a beta of 0.31. The company’s fifty day moving average price is $92.64 and its two-hundred day moving average price is $91.88.

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.