Federated Hermes Inc. Sells 70,208 Shares of Alibaba Group Holding Limited $BABA

Federated Hermes Inc. lowered its stake in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 91.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,207 shares of the specialty retailer’s stock after selling 70,208 shares during the quarter. Federated Hermes Inc.’s holdings in Alibaba Group were worth $1,109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton bought a new position in shares of Alibaba Group during the 2nd quarter valued at about $26,000. Mather Group LLC. bought a new stake in Alibaba Group in the 3rd quarter worth approximately $30,000. NBT Bank N A NY boosted its stake in Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after buying an additional 125 shares in the last quarter. NewSquare Capital LLC grew its position in Alibaba Group by 65.0% during the second 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 last quarter. Finally, Elkhorn Partners Limited Partnership raised its stake in shares of Alibaba Group by 33.3% during the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 100 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BABA shares. Nomura upped their price objective on shares of Alibaba Group from $193.00 to $237.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Wall Street Zen downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Macquarie restated an “outperform” rating on shares of Alibaba Group in a research report on Tuesday, November 25th. Freedom Capital downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Morgan Stanley lowered their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Eighteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.17.

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Alibaba Group Stock Down 1.0%

Shares of NYSE:BABA opened at $157.56 on Friday. The stock’s 50-day moving average is $158.89 and its 200 day moving average is $153.26. The company has a market cap of $376.16 billion, a PE ratio of 21.76, a P/E/G ratio of 3.47 and a beta of 0.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group Holding Limited has a 1 year low of $95.73 and a 1 year high of $192.67.

About Alibaba Group

(Free Report)

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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