Sierra Capital LLC Reduces Holdings in Alibaba Group Holding Limited $BABA

Sierra Capital LLC trimmed its position in Alibaba Group Holding Limited (NYSE:BABA) by 52.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,617 shares of the specialty retailer’s stock after selling 2,913 shares during the period. Sierra Capital LLC’s holdings in Alibaba Group were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of BABA. Kingstone Capital Partners Texas LLC boosted its stake in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after buying an additional 49,010,087 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after buying an additional 3,947,460 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its stake in Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after purchasing an additional 1,045,789 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho set a $195.00 price objective on shares of Alibaba Group in a research report on Wednesday, October 22nd. Bank of America lifted their target price on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. reduced their target price on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. Finally, Erste Group Bank raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Price Performance

BABA stock opened at $153.66 on Monday. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a market cap of $366.64 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.40 and a beta of 0.19. The firm has a 50 day moving average of $167.90 and a 200-day moving average of $136.77. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.