Cibc World Market Inc. Sells 91,364 Shares of Alibaba Group Holding Limited $BABA

Cibc World Market Inc. trimmed its position in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 27.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 245,595 shares of the specialty retailer’s stock after selling 91,364 shares during the quarter. Cibc World Market Inc.’s holdings in Alibaba Group were worth $43,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in BABA. Rosenberg Matthew Hamilton bought a new position in shares of Alibaba Group during the second quarter valued at approximately $26,000. Mather Group LLC. bought a new position in shares of Alibaba Group in the 3rd quarter worth $30,000. NBT Bank N A NY raised its position in shares of Alibaba Group by 231.5% in the 3rd quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock worth $32,000 after acquiring an additional 125 shares in the last quarter. NewSquare Capital LLC lifted its stake in shares of Alibaba Group by 65.0% during the 2nd quarter. NewSquare Capital LLC now owns 330 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 130 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership boosted its position in Alibaba Group by 33.3% during the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock valued at $45,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Key Alibaba Group News

Here are the key news stories impacting Alibaba Group this week:

Alibaba Group Trading Down 1.4%

Shares of Alibaba Group stock opened at $164.21 on Thursday. Alibaba Group Holding Limited has a 1 year low of $95.73 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The stock has a market cap of $392.04 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 3.65 and a beta of 0.39. The firm has a fifty day moving average price of $159.20 and a 200 day moving average price of $154.69.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BABA shares. Arete Research upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Wednesday, January 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, January 21st. Sanford C. Bernstein lowered their price objective on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research note on Wednesday, November 26th. Finally, Wall Street Zen lowered Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Eighteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $195.17.

Get Our Latest Stock Report on BABA

Alibaba Group Company Profile

(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.

Further Reading

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

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.