Waterfront Wealth Inc. Sells 9,681 Shares of Alibaba Group Holding Limited $BABA

Waterfront Wealth Inc. cut its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 55.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,815 shares of the specialty retailer’s stock after selling 9,681 shares during the period. Waterfront Wealth Inc.’s holdings in Alibaba Group were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in Alibaba Group in the 3rd quarter valued at $30,000. NBT Bank N A NY lifted its stake in Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after purchasing an additional 125 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new stake in Alibaba Group in the second quarter worth approximately $26,000. Richardson Financial Services Inc. boosted its stake in shares of Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 65 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new stake in Alibaba Group during the third quarter valued at about $51,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA opened at $162.57 on Monday. 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 $95.73 and a 12 month high of $192.67. The stock has a market cap of $388.12 billion, a price-to-earnings ratio of 22.45, a PEG ratio of 3.55 and a beta of 0.39. The company’s 50 day moving average is $158.99 and its two-hundred day moving average is $154.00.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, January 21st. Nomura increased their target price on Alibaba Group from $193.00 to $237.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Freedom Capital lowered shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Morgan Stanley cut their price objective on shares of Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, January 8th. Finally, Jefferies Financial Group dropped their price target on Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Eighteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $195.17.

Alibaba Group Company Profile

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.