Alibaba Group Holding Limited $BABA Shares Sold by Maxi Investments CY Ltd

Maxi Investments CY Ltd cut its stake in Alibaba Group Holding Limited (NYSE:BABAFree Report) by 93.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 20,000 shares of the specialty retailer’s stock after selling 294,835 shares during the period. Maxi Investments CY Ltd’s holdings in Alibaba Group were worth $3,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Traphagen Investment Advisors LLC boosted its stake in Alibaba Group by 2.0% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after purchasing an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC raised 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 worth $54,000 after buying an additional 63 shares in the last quarter. Bluesphere Advisors LLC raised its stake 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 buying an additional 64 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings 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 valued at $45,000 after buying an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC lifted its holdings in shares of 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 buying an additional 66 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BABA shares. Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Benchmark reissued a “buy” rating and issued a $195.00 price target on shares of Alibaba Group in a report on Tuesday, November 25th. Weiss Ratings lowered shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 27th. Morgan Stanley lowered 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 note on Thursday, January 8th. Finally, Arete Research upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Wednesday, January 21st. Sixteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $195.17.

View Our Latest Stock Analysis on BABA

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Alibaba Group Stock Up 1.1%

Shares of NYSE:BABA opened at $136.65 on Tuesday. The firm has a 50 day simple moving average of $155.69 and a 200 day simple moving average of $158.80. Alibaba Group Holding Limited has a 52 week low of $95.73 and a 52 week high of $192.67. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $326.23 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.96 and a beta of 0.43.

About Alibaba Group

(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.

See Also

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

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