FengHe Fund Management Pte. Ltd. Sells 4,600 Shares of Alibaba Group Holding Limited $BABA

FengHe Fund Management Pte. Ltd. reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 8.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 47,600 shares of the specialty retailer’s stock after selling 4,600 shares during the quarter. Alibaba Group makes up approximately 0.9% of FengHe Fund Management Pte. Ltd.’s investment portfolio, making the stock its 18th biggest position. FengHe Fund Management Pte. Ltd.’s holdings in Alibaba Group were worth $5,398,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Naples Global Advisors LLC raised its holdings in Alibaba Group by 5.6% in the 2nd quarter. Naples Global Advisors LLC now owns 22,646 shares of the specialty retailer’s stock worth $2,610,000 after purchasing an additional 1,210 shares during the period. BSW Wealth Partners raised its stake in shares of Alibaba Group by 9.1% in the second quarter. BSW Wealth Partners now owns 1,785 shares of the specialty retailer’s stock worth $202,000 after buying an additional 149 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of Alibaba Group by 6,545.2% in the second quarter. SOA Wealth Advisors LLC. now owns 54,424 shares of the specialty retailer’s stock worth $6,172,000 after buying an additional 53,605 shares during the period. Deltec Asset Management LLC raised its stake in Alibaba Group by 28.9% during the 2nd quarter. Deltec Asset Management LLC now owns 5,575 shares of the specialty retailer’s stock worth $632,000 after acquiring an additional 1,250 shares during the period. Finally, Ninety One UK Ltd bought a new stake in Alibaba Group during the 2nd quarter worth approximately $15,318,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

NYSE:BABA opened at $182.70 on Thursday. The stock’s 50 day simple moving average is $137.93 and its two-hundred day simple moving average is $125.56. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $183.08. The company has a market cap of $435.57 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.06 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Analysts Set New Price Targets

Several brokerages have recently commented on BABA. Citigroup restated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. JPMorgan Chase & Co. raised their price target on Alibaba Group from $170.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and set a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a report on Wednesday, September 3rd. Finally, Jefferies Financial Group lifted their target price on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Buy” and an average price target of $180.75.

Alibaba Group Company 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.