Pzena Investment Management LLC Trims Stake in Alibaba Group Holding Limited $BABA

Pzena Investment Management LLC cut its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 22.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,370 shares of the specialty retailer’s stock after selling 11,968 shares during the period. Pzena Investment Management LLC’s holdings in Alibaba Group were worth $7,394,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BABA. Mather Group LLC. purchased a new position in shares of Alibaba Group during the 3rd quarter valued at about $30,000. NBT Bank N A NY raised its stake in Alibaba Group by 231.5% during 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 during the period. NewSquare Capital LLC lifted its holdings 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 purchasing an additional 130 shares in the last quarter. Elkhorn Partners Limited Partnership boosted its position in shares of Alibaba Group by 33.3% in the second quarter. Elkhorn Partners Limited Partnership now owns 400 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 100 shares during the period. Finally, Richardson Financial Services Inc. increased its stake in shares of Alibaba Group by 34.4% in 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 in the last quarter. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Freedom Capital lowered Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Wednesday, January 21st. Finally, Citigroup boosted their price target on Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Seventeen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Stock Down 0.9%

Shares of BABA opened at $154.35 on Friday. 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 capitalization of $368.50 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 3.41 and a beta of 0.39. Alibaba Group Holding Limited has a 1 year low of $95.73 and a 1 year high of $192.67. The business’s 50 day simple moving average is $159.00 and its 200-day simple moving average is $155.98.

Alibaba Group 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.