Alibaba Group Holding Limited $BABA Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 43.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,535 shares of the specialty retailer’s stock after selling 4,991 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Alibaba Group were worth $1,168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. 1248 Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter worth $26,000. Ransom Advisory Ltd acquired a new position in Alibaba Group in the first quarter valued at about $26,000. Rosenberg Matthew Hamilton purchased a new position in Alibaba Group during the second quarter worth about $26,000. Mather Group LLC. acquired a new stake in shares of Alibaba Group during the third quarter valued at about $30,000. Finally, NewSquare Capital LLC raised its stake in shares of Alibaba Group by 65.0% in the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock valued at $37,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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Alibaba Group Stock Performance

Shares of BABA stock opened at $150.93 on Friday. The company has a market cap of $360.14 billion, a P/E ratio of 20.85, a PEG ratio of 2.39 and a beta of 0.37. The firm has a fifty day moving average price of $155.81 and a 200 day moving average price of $145.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BABA. Bank of America increased their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen downgraded Alibaba Group from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Arete lowered Alibaba Group from a “buy” rating to a “neutral” rating and set a $172.00 target price on the stock. in a research note on Tuesday, December 9th. Benchmark restated a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a report on Tuesday, November 25th. Finally, Sanford C. Bernstein cut their price target on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $191.84.

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About Alibaba Group

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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