Alibaba Group Holding Limited (BABA) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,528,535 shares of the specialty retailer’s stock after selling 623,973 shares during the quarter. Alibaba Group comprises 0.6% of Ameriprise Financial Inc.’s portfolio, making the stock its 28th largest position. Ameriprise Financial Inc. owned approximately 0.29% of Alibaba Group worth $1,300,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in BABA. Ronald Blue & Co. LLC increased its position in shares of Alibaba Group by 0.7% during the 2nd quarter. Ronald Blue & Co. LLC now owns 3,458 shares of the specialty retailer’s stock valued at $487,000 after purchasing an additional 25 shares during the period. Cornerstone Advisors Inc. increased its position in shares of Alibaba Group by 1.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,259 shares of the specialty retailer’s stock valued at $318,000 after purchasing an additional 30 shares during the period. Mosaic Family Wealth LLC increased its position in shares of Alibaba Group by 2.9% during the 2nd quarter. Mosaic Family Wealth LLC now owns 1,852 shares of the specialty retailer’s stock valued at $261,000 after purchasing an additional 52 shares during the period. Steinberg Global Asset Management increased its position in shares of Alibaba Group by 1.9% during the 2nd quarter. Steinberg Global Asset Management now owns 3,190 shares of the specialty retailer’s stock valued at $449,000 after purchasing an additional 59 shares during the period. Finally, Partnervest Advisory Services LLC increased its position in shares of Alibaba Group by 1.8% during the 2nd quarter. Partnervest Advisory Services LLC now owns 3,650 shares of the specialty retailer’s stock valued at $514,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 38.13% of the company’s stock.

BABA has been the subject of several research reports. BidaskClub raised Alibaba Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Vetr raised Alibaba Group from a “buy” rating to a “strong-buy” rating and set a $173.25 price objective for the company in a research note on Tuesday, August 15th. Stifel Nicolaus raised their price objective on Alibaba Group from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $160.00 target price on shares of Alibaba Group in a research report on Tuesday, August 15th. Finally, SunTrust Banks began coverage on Alibaba Group in a research report on Tuesday, August 15th. They issued a “buy” rating and a $175.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Alibaba Group has a consensus rating of “Buy” and a consensus target price of $185.14.

Alibaba Group Holding Limited (BABA) traded up $3.67 during trading on Wednesday, hitting $172.63. The stock had a trading volume of 23,879,455 shares, compared to its average volume of 15,297,706. Alibaba Group Holding Limited has a twelve month low of $86.01 and a twelve month high of $191.75. The company has a market capitalization of $434,256.47, a price-to-earnings ratio of 49.29, a PEG ratio of 1.28 and a beta of 2.52. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.21.

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Alibaba Group Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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