Patient Capital Management LLC Sells 9,433 Shares of Alibaba Group Holding Limited $BABA

Patient Capital Management LLC reduced its stake in Alibaba Group Holding Limited (NYSE:BABA) by 1.9% during the third quarter, HoldingsChannel.com reports. The fund owned 489,677 shares of the specialty retailer’s stock after selling 9,433 shares during the quarter. Alibaba Group comprises approximately 3.5% of Patient Capital Management LLC’s holdings, making the stock its 11th biggest position. Patient Capital Management LLC’s holdings in Alibaba Group were worth $87,520,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after buying an additional 981 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Alibaba Group during the 1st quarter worth approximately $254,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Alibaba Group by 30.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 94,489 shares of the specialty retailer’s stock valued at $10,271,000 after acquiring an additional 21,908 shares during the last quarter. CX Institutional grew its holdings in shares of Alibaba Group by 11.1% in the second quarter. CX Institutional now owns 2,251 shares of the specialty retailer’s stock valued at $255,000 after purchasing an additional 224 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Alibaba Group by 286.7% in the second quarter. Farther Finance Advisors LLC now owns 15,985 shares of the specialty retailer’s stock worth $1,813,000 after purchasing an additional 11,851 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Jefferies Financial Group lowered their price target on shares of Alibaba Group from $231.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Barclays lifted their price target on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 26th. Benchmark restated a “buy” rating and set a $195.00 price objective on shares of Alibaba Group in a research report on Tuesday, November 25th. Finally, Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $191.63.

Alibaba Group Stock Down 2.0%

Shares of NYSE:BABA opened at $162.15 on Wednesday. The firm has a market capitalization of $387.13 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.56 and a beta of 0.37. The business has a 50 day simple moving average of $156.02 and a two-hundred day simple moving average of $148.93. Alibaba Group Holding Limited has a 1 year low of $84.42 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46.

Alibaba Group Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co?founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high?profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.