Alibaba Group Hldg LTD (BABA) Holder Pictet Asset Management LTD Has Decreased Its Stake

Pictet Asset Management Ltd decreased its stake in Alibaba Group Hldg Ltd (BABA) by 2.57% based on its latest 2018Q2 regulatory filing with the SEC. Pictet Asset Management Ltd sold 74,763 shares as the company’s stock declined 21.86% while stock markets rallied. The institutional investor held 2.83M shares of the business services company at the end of 2018Q2, valued at $525.33 million, down from 2.91 million at the end of the previous reported quarter. Pictet Asset Management Ltd who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $413.72B market cap company. The stock increased 2.93% or $4.58 during the last trading session, reaching $160.86. About 35.07M shares traded or 54.08% up from the average. Alibaba Group Holding Limited (NYSE:BABA) has declined 7.90% since December 2, 2017 and is downtrending. It has underperformed by 23.52% the S&P500.

Pictet Asset Management Ltd, which manages about $41.81 billion US Long portfolio, upped its stake in Sysco Corp (NYSE:SYY) by 57,637 shares to 832,050 shares, valued at $56.82 million in 2018Q2, according to the filing. It also increased its holding in Yy Inc Ads Repcom (NASDAQ:YY) by 72,192 shares in the quarter, for a total of 205,353 shares, and has risen its stake in United Nat Foods Inc (NASDAQ:UNFI).

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Investorplace.com which released: “3 Chinese Stocks Worthy of Owning Through the Trade War Negotiations – Investorplace.com” on November 19, 2018, also Livetradingnews.com with their article: “Alibaba Group Holding Limited (NYSE:BABA) officially confirmed as a member of the Communist Party – Live Trading News” published on November 27, 2018, Seekingalpha.com published: “With eyes on Singles’ Day, Alibaba aims for cloud – Seeking Alpha” on November 09, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Livetradingnews.com and their article: “Alibaba Group Holding Limited (NYSE:BABA) macro headwinds are causing a lot of uncertainty – Live Trading News” published on November 20, 2018 as well as Seekingalpha.com‘s news article titled: “Alibaba Singles’ Day: Cash In On The Big Hype – Seeking Alpha” with publication date: November 08, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 14 analysts covering Alibaba (NYSE:BABA), 14 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Alibaba has $30500 highest and $180 lowest target. $225.14’s average target is 39.96% above currents $160.86 stock price. Alibaba had 20 analyst reports since June 7, 2018 according to SRatingsIntel. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Strong Buy” rating given on Wednesday, October 10 by Raymond James. JP Morgan maintained the stock with “Overweight” rating in Friday, August 24 report. The firm has “Outperform” rating by Wells Fargo given on Thursday, June 14. M Partners maintained the stock with “Buy” rating in Tuesday, November 13 report. As per Friday, August 24, the company rating was maintained by KeyBanc Capital Markets. UBS maintained the shares of BABA in report on Monday, November 5 with “Buy” rating. The company was maintained on Monday, August 27 by Barclays Capital. The stock has “Overweight” rating by KeyBanc Capital Markets on Wednesday, October 10. The firm has “Buy” rating by UBS given on Friday, October 12. The firm has “Overweight” rating given on Monday, November 5 by KeyBanc Capital Markets.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Chart

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