Alibaba Group Holding Limited $BABA Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC lowered its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.4% during the second quarter, HoldingsChannel reports. The firm owned 15,566 shares of the specialty retailer’s stock after selling 1,802 shares during the period. Park Avenue Securities LLC’s holdings in Alibaba Group were worth $1,765,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Accent Capital Management LLC lifted its holdings in Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after buying an additional 82 shares in the last quarter. Greenleaf Trust increased its position in shares of Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after acquiring an additional 85 shares during the last quarter. Marcum Wealth LLC boosted its holdings in Alibaba Group by 3.2% in the first quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer’s stock valued at $363,000 after purchasing an additional 86 shares during the last quarter. Principal Securities Inc. grew its stake in Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock valued at $2,225,000 after purchasing an additional 89 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

BABA stock opened at $176.66 on Thursday. The stock’s fifty day moving average is $132.17 and its two-hundred day moving average is $124.18. The stock has a market capitalization of $421.16 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.00 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. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $180.16.

Analyst Ratings Changes

Several equities analysts have recently commented on BABA shares. UBS Group reiterated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Barclays raised their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. Benchmark increased their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Citigroup increased their target price on Alibaba Group from $148.00 to $187.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $172.81.

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.