Ithaka Group LLC Reduces Stake in Alibaba Group Holding Ltd (NYSE:BABA)

Ithaka Group LLC decreased its holdings in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 39.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,370 shares of the specialty retailer’s stock after selling 47,488 shares during the quarter. Alibaba Group comprises about 2.1% of Ithaka Group LLC’s portfolio, making the stock its 22nd biggest holding. Ithaka Group LLC’s holdings in Alibaba Group were worth $13,204,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc lifted its position in shares of Alibaba Group by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 37,571,661 shares of the specialty retailer’s stock worth $6,190,307,000 after buying an additional 849,659 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Alibaba Group by 14.3% during the 4th quarter. Advisors Asset Management Inc. now owns 55,943 shares of the specialty retailer’s stock worth $7,668,000 after purchasing an additional 7,015 shares during the last quarter. Buckingham Capital Management Inc. increased its stake in shares of Alibaba Group by 48.9% during the 4th quarter. Buckingham Capital Management Inc. now owns 5,323 shares of the specialty retailer’s stock worth $730,000 after purchasing an additional 1,747 shares during the last quarter. UBP Investment Advisors SA increased its stake in shares of Alibaba Group by 45.0% during the 4th quarter. UBP Investment Advisors SA now owns 2,630 shares of the specialty retailer’s stock worth $360,000 after purchasing an additional 816 shares during the last quarter. Finally, BB&T Securities LLC increased its stake in shares of Alibaba Group by 13.3% during the 4th quarter. BB&T Securities LLC now owns 110,004 shares of the specialty retailer’s stock worth $15,077,000 after purchasing an additional 12,894 shares during the last quarter. 40.68% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on BABA shares. Raymond James decreased their price target on shares of Alibaba Group from $285.00 to $280.00 and set a “strong-buy” rating for the company in a research note on Thursday, May 16th. Benchmark restated a “buy” rating and set a $220.00 price target (up previously from $205.00) on shares of Alibaba Group in a research note on Thursday, May 16th. Robert W. Baird raised their price target on shares of Alibaba Group from $178.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, March 29th. Zacks Investment Research upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating in a research note on Monday, April 22nd. Finally, ValuEngine upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. One research analyst has rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Alibaba Group currently has a consensus rating of “Buy” and a consensus price target of $218.39.

Alibaba Group stock traded down $2.54 during mid-day trading on Wednesday, reaching $160.11. The company’s stock had a trading volume of 563,301 shares, compared to its average volume of 15,855,532. Alibaba Group Holding Ltd has a 12-month low of $129.77 and a 12-month high of $211.12. The firm has a market capitalization of $395.01 billion, a price-to-earnings ratio of 44.59, a P/E/G ratio of 1.13 and a beta of 2.32. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Wednesday, May 15th. The specialty retailer reported $8.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $7.82. The business had revenue of $93.50 billion during the quarter, compared to analyst estimates of $91.68 billion. Alibaba Group had a net margin of 23.17% and a return on equity of 12.72%. Alibaba Group’s revenue was up 51.0% compared to the same quarter last year. During the same period in the previous year, the business earned $5.73 EPS. On average, equities research analysts forecast that Alibaba Group Holding Ltd will post 5.1 EPS for the current year.

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About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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