Envestnet Asset Management Inc. Sells 4,628 Shares of Alibaba Group Holding Limited (BABA)

Envestnet Asset Management Inc. reduced its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,574 shares of the specialty retailer’s stock after selling 4,628 shares during the period. Envestnet Asset Management Inc.’s holdings in Alibaba Group were worth $16,678,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BABA. Capital Research Global Investors boosted its stake in shares of Alibaba Group by 2.2% in the second quarter. Capital Research Global Investors now owns 33,618,382 shares of the specialty retailer’s stock valued at $4,736,830,000 after purchasing an additional 738,281 shares during the period. FMR LLC boosted its stake in shares of Alibaba Group by 42.5% in the second quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after purchasing an additional 7,544,165 shares during the period. Jennison Associates LLC boosted its stake in shares of Alibaba Group by 3.3% in the second quarter. Jennison Associates LLC now owns 20,448,110 shares of the specialty retailer’s stock valued at $2,881,139,000 after purchasing an additional 661,109 shares during the period. Capital World Investors boosted its stake in shares of Alibaba Group by 5.7% in the second quarter. Capital World Investors now owns 20,243,958 shares of the specialty retailer’s stock valued at $2,852,374,000 after purchasing an additional 1,091,620 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of Alibaba Group by 5.4% in the second quarter. UBS Asset Management Americas Inc. now owns 12,234,002 shares of the specialty retailer’s stock valued at $1,723,771,000 after purchasing an additional 626,446 shares during the period. Hedge funds and other institutional investors own 38.13% of the company’s stock.

Alibaba Group Holding Limited (BABA) opened at $168.96 on Wednesday. Alibaba Group Holding Limited has a one year low of $86.01 and a one year high of $191.75. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21. The company has a market cap of $434,256.47, a PE ratio of 49.29, a PEG ratio of 1.28 and a beta of 2.52.

BABA has been the topic of several analyst reports. Macquarie reaffirmed a “buy” rating and issued a $245.00 target price on shares of Alibaba Group in a report on Monday, October 16th. They noted that the move was a valuation call. Vetr raised shares of Alibaba Group from a “hold” rating to a “buy” rating and set a $180.41 target price on the stock in a report on Monday, August 28th. Stifel Nicolaus raised their target price on shares of Alibaba Group from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, August 21st. Barclays raised their target price on shares of Alibaba Group from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Alibaba Group from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $184.15.

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Alibaba Group 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.

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

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