CenterBook Partners LP Sells 6,578 Shares of Alibaba Group Holding Limited $BABA

CenterBook Partners LP reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 54.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,524 shares of the specialty retailer’s stock after selling 6,578 shares during the quarter. CenterBook Partners LP’s holdings in Alibaba Group were worth $987,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Traphagen Investment Advisors LLC lifted its holdings in Alibaba Group by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after buying an additional 59 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Alibaba Group by 26.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 63 shares during the period. Bluesphere Advisors LLC boosted its position in shares of Alibaba Group by 2.2% in the 3rd quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock worth $540,000 after purchasing an additional 64 shares during the last quarter. Richardson Financial Services Inc. grew its stake in shares of Alibaba Group by 34.4% during the third quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC increased its holdings in Alibaba Group by 1.0% in the third quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock valued at $1,191,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA opened at $154.60 on Friday. The firm’s 50 day moving average is $158.99 and its 200-day moving average is $156.24. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $369.10 billion, a PE ratio of 21.35, a price-to-earnings-growth ratio of 3.38 and a beta of 0.39. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67.

Analyst Upgrades and Downgrades

BABA has been the subject of several analyst reports. Wall Street Zen lowered Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Arete Research upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Wednesday, January 21st. Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a research note on Tuesday, November 25th. Barclays lifted their price target on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Finally, Freedom Capital cut shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Seventeen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.