Pinnacle Financial Partners Inc. trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 44.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,782 shares of the specialty retailer’s stock after selling 2,240 shares during the period. Pinnacle Financial Partners Inc.’s holdings in Alibaba Group were worth $481,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in Alibaba Group by 20.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 17,898 shares of the specialty retailer’s stock worth $1,930,000 after buying an additional 3,027 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Alibaba Group by 87.4% during the 2nd quarter. Fisher Asset Management LLC now owns 10,318,873 shares of the specialty retailer’s stock valued at $1,453,929,000 after purchasing an additional 4,813,431 shares in the last quarter. Green Court Capital Management Ltd bought a new position in shares of Alibaba Group during the 2nd quarter valued at $181,098,000. Baldwin Brothers Inc. MA raised its holdings in shares of Alibaba Group by 11.9% during the 2nd quarter. Baldwin Brothers Inc. MA now owns 2,825 shares of the specialty retailer’s stock valued at $398,000 after purchasing an additional 300 shares in the last quarter. Finally, Orca Investment Management LLC bought a new position in shares of Alibaba Group during the 2nd quarter valued at $2,222,000. 38.13% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on BABA. Bank of America restated a “buy” rating and set a $200.00 price target on shares of Alibaba Group in a report on Monday, October 16th. Needham & Company LLC raised their target price on shares of Alibaba Group from $190.00 to $215.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Oppenheimer reiterated an “outperform” rating and issued a $190.00 target price (up from $165.00) on shares of Alibaba Group in a research note on Friday, August 25th. Vetr lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating and set a $199.42 target price on the stock. in a research note on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating and set a $211.00 target price on the stock in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $185.14.
Alibaba Group Holding Limited (NYSE BABA) opened at $174.47 on Friday. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $191.75. The firm has a market cap of $432,732.59, a PE ratio of 49.12, a price-to-earnings-growth ratio of 1.28 and a beta of 2.52. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.71 and a quick ratio of 1.71.
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Alibaba Group Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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