Acadian Asset Management LLC Sells 8,404 Shares of Alibaba Group Holding Limited $BABA

Acadian Asset Management LLC trimmed its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 27.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,010 shares of the specialty retailer’s stock after selling 8,404 shares during the quarter. Acadian Asset Management LLC’s holdings in Alibaba Group were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Temasek Holdings Private Ltd boosted its position in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after buying an additional 1,045,789 shares during the period. American Century Companies Inc. grew its stake in Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock worth $303,215,000 after purchasing an additional 785,494 shares in the last quarter. Verde Servicos Internacionais S.A. increased its holdings in Alibaba Group by 6.9% during the 2nd quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock worth $7,686,000 after purchasing an additional 4,373 shares during the period. Causeway Capital Management LLC raised its position in Alibaba Group by 42.6% during the 1st quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock valued at $179,305,000 after purchasing an additional 404,842 shares in the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of Alibaba Group by 53.1% in the 1st quarter. Independent Advisor Alliance now owns 13,043 shares of the specialty retailer’s stock worth $1,725,000 after buying an additional 4,521 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BABA. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. CLSA lifted their price target on Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Wednesday, September 3rd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Finally, Mizuho set a $195.00 price objective on shares of Alibaba Group in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Stock Down 3.9%

BABA stock opened at $153.66 on Friday. The company has a market capitalization of $366.64 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The firm’s fifty day simple moving average is $167.90 and its 200-day simple moving average is $136.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

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.