Cerity Partners LLC Sells 66,581 Shares of Alibaba Group Holding Limited $BABA

Cerity Partners LLC lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 27.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 177,459 shares of the specialty retailer’s stock after selling 66,581 shares during the quarter. Cerity Partners LLC’s holdings in Alibaba Group were worth $20,126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd increased its position in shares of 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 in the last quarter. American Century Companies Inc. increased its stake in Alibaba Group by 52.1% during the 1st 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. raised 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 buying an additional 4,373 shares during the period. Causeway Capital Management LLC raised its holdings 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 worth $179,305,000 after buying an additional 404,842 shares during the period. Finally, Ninety One UK Ltd bought a new position in Alibaba Group in the second quarter valued at approximately $15,318,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA opened at $155.97 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50-day simple moving average is $166.37 and its 200 day simple moving average is $140.67. The firm has a market capitalization of $372.16 billion, a PE ratio of 21.54, a PEG ratio of 2.43 and a beta of 0.33. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67.

Analyst Ratings Changes

BABA has been the topic of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Nomura increased their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Susquehanna lifted their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Arete cut Alibaba Group from a “buy” rating to a “neutral” rating and set a $172.00 price objective for the company. in a research report on Tuesday. Finally, Bank of America increased their price objective on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Seventeen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.00.

Alibaba Group Company 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.