Thornburg Investment Management Inc. Has $54.91 Million Holdings in Alibaba Group Holding Limited $BABA

Thornburg Investment Management Inc. trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 1.9% during the second quarter, Holdings Channel.com reports. The firm owned 484,152 shares of the specialty retailer’s stock after selling 9,622 shares during the period. Thornburg Investment Management Inc.’s holdings in Alibaba Group were worth $54,908,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. 1248 Management LLC bought a new position in Alibaba Group in the 1st quarter worth approximately $26,000. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group in the 1st quarter valued at $26,000. Summit Securities Group LLC increased its stake in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group in the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Alibaba Group during the second quarter worth $26,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $157.02 on Wednesday. The firm’s 50 day simple moving average is $168.67 and its 200 day simple moving average is $138.36. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a market capitalization of $374.67 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BABA. Nomura raised their price target on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Bank of America raised their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Benchmark reiterated a “buy” rating on shares of Alibaba Group in a research report on Tuesday. Arete raised 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, September 3rd. Finally, Susquehanna raised their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $190.17.

Alibaba Group Profile

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.