Procyon Advisors LLC reduced its position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 90.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,366 shares of the specialty retailer’s stock after selling 21,616 shares during the period. Procyon Advisors LLC’s holdings in Alibaba Group were worth $268,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Aaron Wealth Advisors LLC lifted its holdings in shares of Alibaba Group by 46.1% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 10,135 shares of the specialty retailer’s stock worth $1,149,000 after purchasing an additional 3,198 shares in the last quarter. Hardin Capital Partners LLC lifted its holdings in shares of Alibaba Group by 5.8% in the 2nd quarter. Hardin Capital Partners LLC now owns 6,374 shares of the specialty retailer’s stock worth $726,000 after purchasing an additional 350 shares in the last quarter. Fiduciary Alliance LLC lifted its stake in Alibaba Group by 18.2% during the 2nd quarter. Fiduciary Alliance LLC now owns 139,370 shares of the specialty retailer’s stock valued at $15,806,000 after acquiring an additional 21,427 shares in the last quarter. NBC Securities Inc. lifted its stake in Alibaba Group by 11.1% during the 2nd quarter. NBC Securities Inc. now owns 7,058 shares of the specialty retailer’s stock valued at $800,000 after acquiring an additional 706 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its stake in Alibaba Group by 3.4% during the 2nd quarter. Quintet Private Bank Europe S.A. now owns 63,828 shares of the specialty retailer’s stock valued at $7,239,000 after acquiring an additional 2,071 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.
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Alibaba Group Trading Up 0.2%
Shares of BABA opened at $162.78 on Friday. The business has a 50-day moving average of $128.92 and a 200 day moving average of $123.61. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $167.32. The firm has a market cap of $388.08 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. UBS Group restated a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Robert W. Baird raised their price objective on Alibaba Group from $142.00 to $153.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Barclays raised their price objective on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Jefferies Financial Group raised their price objective on Alibaba Group from $165.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Bank of America raised their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Buy” and a consensus target price of $168.81.
View Our Latest Analysis on Alibaba Group
About Alibaba Group
(Free Report)
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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