Loomis Sayles & Co. L P Sells 1,388,995 Shares of Alibaba Group Holding Limited $BABA

Loomis Sayles & Co. L P reduced its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 35.6% in the second quarter, Holdings Channel reports. The institutional investor owned 2,510,190 shares of the specialty retailer’s stock after selling 1,388,995 shares during the period. Loomis Sayles & Co. L P’s holdings in Alibaba Group were worth $284,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tejara Capital Ltd purchased a new stake in shares of Alibaba Group in the 2nd quarter worth $1,644,000. Norges Bank bought a new stake in Alibaba Group during the second quarter valued at about $527,243,000. Quadrature Capital Ltd bought a new stake in Alibaba Group during the second quarter valued at about $13,094,000. Scotia Capital Inc. increased its position in Alibaba Group by 37.1% in the second quarter. Scotia Capital Inc. now owns 40,868 shares of the specialty retailer’s stock worth $4,635,000 after buying an additional 11,052 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Alibaba Group by 4.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 72,715 shares of the specialty retailer’s stock worth $8,247,000 after buying an additional 2,793 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $157.19 on Friday. The firm has a market cap of $375.06 billion, a PE ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19. The stock has a 50 day moving average of $168.30 and a 200 day moving average of $138.80. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BABA shares. Mizuho set a $195.00 price objective on Alibaba Group in a research note on Wednesday, October 22nd. Barclays upped their price target on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group restated a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Susquehanna upped their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, September 18th. Finally, Robert W. Baird increased their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $191.89.

About Alibaba Group

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.