Coatue Management LLC Sells 1,351,334 Shares of Alibaba Group Holding Ltd (NYSE:BABA)

Share on StockTwits

Coatue Management LLC reduced its stake in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 53.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,167,006 shares of the specialty retailer’s stock after selling 1,351,334 shares during the period. Alibaba Group comprises 2.2% of Coatue Management LLC’s investment portfolio, making the stock its 19th biggest position. Coatue Management LLC’s holdings in Alibaba Group were worth $251,723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in BABA. Public Employees Retirement Association of Colorado lifted its stake in shares of Alibaba Group by 5.4% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 350,900 shares of the specialty retailer’s stock valued at $68,243,000 after buying an additional 18,000 shares in the last quarter. Crewe Advisors LLC purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at approximately $212,000. BOKF NA lifted its stake in shares of Alibaba Group by 21.0% during the 1st quarter. BOKF NA now owns 22,385 shares of the specialty retailer’s stock valued at $4,354,000 after buying an additional 3,892 shares in the last quarter. Highland Capital Management LLC lifted its stake in shares of Alibaba Group by 6.2% during the 1st quarter. Highland Capital Management LLC now owns 6,900 shares of the specialty retailer’s stock valued at $1,342,000 after buying an additional 400 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Alibaba Group by 6.7% during the 1st quarter. State Street Corp now owns 37,975,313 shares of the specialty retailer’s stock valued at $7,385,439,000 after buying an additional 2,368,050 shares in the last quarter. 46.02% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently commented on BABA shares. Truist upped their price target on shares of Alibaba Group from $240.00 to $242.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Citigroup reiterated a “buy” rating and issued a $316.00 target price on shares of Alibaba Group in a research note on Friday, July 10th. Goldman Sachs Group reiterated a “buy” rating and issued a $276.00 target price on shares of Alibaba Group in a research note on Tuesday, July 7th. Needham & Company LLC reiterated a “buy” rating and issued a $275.00 target price on shares of Alibaba Group in a research note on Friday, August 21st. Finally, Nomura reiterated a “buy” rating and issued a $309.00 target price on shares of Alibaba Group in a research note on Sunday, August 23rd. Three equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $269.99.

Alibaba Group stock traded down $1.11 during trading hours on Friday, reaching $281.39. The stock had a trading volume of 15,874,732 shares, compared to its average volume of 15,467,563. The stock has a market cap of $715.97 billion, a PE ratio of 30.32, a PEG ratio of 2.19 and a beta of 1.56. Alibaba Group Holding Ltd has a 52 week low of $161.68 and a 52 week high of $299.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.98 and a quick ratio of 1.98. The company has a fifty day simple moving average of $261.75 and a 200-day simple moving average of $222.04.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 20th. The specialty retailer reported $14.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $13.28. The business had revenue of $153.75 billion for the quarter, compared to analyst estimates of $147.30 billion. Alibaba Group had a net margin of 31.96% and a return on equity of 14.13%. The company’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned $12.55 EPS. Research analysts predict that Alibaba Group Holding Ltd will post 7.48 earnings per share for the current fiscal year.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

Featured Story: Why do companies issue stock splits?

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Ltd (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply