Black Creek Investment Management Inc. decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 50.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,500 shares of the specialty retailer’s stock after selling 69,500 shares during the period. Alibaba Group comprises about 0.2% of Black Creek Investment Management Inc.’s portfolio, making the stock its 25th largest holding. Black Creek Investment Management Inc.’s holdings in Alibaba Group were worth $5,626,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of Alibaba Group during the first quarter worth about $53,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Alibaba Group in the 1st quarter valued at about $2,452,000. Dakota Wealth Management bought a new position in Alibaba Group in the 1st quarter valued at about $390,000. Sequoia Financial Advisors LLC grew its position in Alibaba Group by 11.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 7,342 shares of the specialty retailer’s stock valued at $799,000 after buying an additional 743 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Alibaba Group by 46.0% in the 1st quarter. Zions Bancorporation N.A. now owns 7,816 shares of the specialty retailer’s stock valued at $850,000 after buying an additional 2,464 shares in the last quarter. Institutional investors own 14.22% of the company’s stock.
Analyst Upgrades and Downgrades
BABA has been the subject of a number of recent analyst reports. Citigroup decreased their target price on shares of Alibaba Group from $151.00 to $147.00 in a research report on Monday, October 9th. Susquehanna reissued a “positive” rating and issued a $160.00 price target on shares of Alibaba Group in a report on Thursday, August 31st. Barclays cut their price target on shares of Alibaba Group from $144.00 to $138.00 and set an “overweight” rating for the company in a report on Wednesday, November 1st. Truist Financial cut their price target on shares of Alibaba Group from $135.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Finally, UBS Group reaffirmed a “buy” rating and set a $127.00 price objective (up from $120.00) on shares of Alibaba Group in a research note on Wednesday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $137.07.
Alibaba Group Stock Performance
Shares of NYSE:BABA traded up $2.61 during trading on Wednesday, reaching $86.48. The stock had a trading volume of 7,288,551 shares, compared to its average volume of 18,995,754. Alibaba Group Holding Limited has a 52 week low of $74.58 and a 52 week high of $121.30. The firm has a market capitalization of $221.89 billion, a price-to-earnings ratio of 18.04 and a beta of 0.67. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $85.16 and a two-hundred day simple moving average of $87.69.
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.
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