Summa Corp. Lowers Stock Position in Alibaba Group Holding Limited $BABA

Summa Corp. lessened its stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 87.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,079 shares of the specialty retailer’s stock after selling 29,031 shares during the quarter. Summa Corp.’s holdings in Alibaba Group were worth $598,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. NTV Asset Management LLC boosted its stake in shares of Alibaba Group by 127.4% in the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock valued at $2,707,000 after purchasing an additional 8,484 shares during the period. Marex Group plc purchased a new position in shares of Alibaba Group in the second quarter valued at approximately $17,139,000. National Bank of Canada FI boosted its stake in shares of Alibaba Group by 373.5% in the second quarter. National Bank of Canada FI now owns 602,233 shares of the specialty retailer’s stock valued at $68,294,000 after purchasing an additional 475,053 shares during the period. Oriental Harbor Investment Master Fund purchased a new position in shares of Alibaba Group in the third quarter valued at approximately $39,500,000. Finally, ARK Investment Management LLC purchased a new position in shares of Alibaba Group in the third quarter valued at approximately $37,565,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Up 0.3%

BABA stock opened at $122.36 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. Alibaba Group Holding Limited has a twelve month low of $95.73 and a twelve month high of $192.67. The company’s 50 day moving average is $144.18 and its two-hundred day moving average is $156.57. The stock has a market cap of $292.12 billion, a P/E ratio of 23.09, a PEG ratio of 2.12 and a beta of 0.50.

Alibaba Group (NYSE:BABA – Get Free Report) last released its quarterly earnings data on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share for the quarter. Alibaba Group had a net margin of 9.12% and a return on equity of 7.43%. The company had revenue of $40.71 billion for the quarter. Research analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 24th. Robert W. Baird decreased their price target on shares of Alibaba Group from $174.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, March 20th. Barclays decreased their price target on shares of Alibaba Group from $195.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, March 20th. Jefferies Financial Group decreased their price target on shares of Alibaba Group from $225.00 to $212.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Finally, DZ Bank downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating and set a $135.00 price target for the company. in a research note on Friday, March 20th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus price target of $187.89.

Read Our Latest Research Report on Alibaba Group

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.

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