MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Trims Stock Position in Alibaba Group Holding Limited $BABA

by · The Markets Daily

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,006,282 shares of the specialty retailer’s stock after selling 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Alibaba Group were worth $133,064,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares during the last quarter. Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group during the first quarter valued at about $31,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group during the first quarter valued at about $31,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BABA shares. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Benchmark lifted their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein restated an “outperform” rating and issued a $160.00 price objective on shares of Alibaba Group in a report on Saturday, August 30th. Finally, Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has an average rating of “Buy” and an average price target of $163.53.

Read Our Latest Stock Report on BABA

Alibaba Group Stock Down 4.0%

Shares of NYSE:BABA opened at $131.00 on Friday. The company has a market capitalization of $312.34 billion, a PE ratio of 15.23, a P/E/G ratio of 1.80 and a beta of 0.11. The company has a current ratio of 1.45, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43. The firm has a 50 day simple moving average of $119.16 and a 200-day simple moving average of $122.06.

Alibaba Group Company Profile

(Free Report)

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.

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