Glovista Investments LLC Has Trimmed Its Alibaba Group Hldg LTD (BABA) Stake by $3.14 Million

February 14, 2018 - By Darrin Black

Glovista Investments Llc decreased its stake in Alibaba Group Hldg Ltd (BABA) by 23.62% based on its latest 2017Q3 regulatory filing with the SEC. Glovista Investments Llc sold 18,258 shares as the company’s stock rose 22.58% with the market. The institutional investor held 59,051 shares of the business services company at the end of 2017Q3, valued at $10.20M, down from 77,309 at the end of the previous reported quarter. Glovista Investments Llc who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $459.93 billion market cap company. The stock increased 1.02% or $1.81 during the last trading session, reaching $179.25. About 15.51 million shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 57.33% since February 14, 2017 and is uptrending. It has outperformed by 40.63% the S&P500.

Glovista Investments Llc, which manages about $940.85 million and $523.49M US Long portfolio, upped its stake in Vaneck Vectors Etf Tr by 174,248 shares to 349,272 shares, valued at $11.73 million in 2017Q3, according to the filing. It also increased its holding in Ishares Tr (MCHI) by 239,420 shares in the quarter, for a total of 900,359 shares, and has risen its stake in Hdfc Bank Ltd (NYSE:HDB).

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Investorplace.com which released: “Alibaba Group Holding (BABA) a Strong Buy at recent price of $176.66, on …” on February 12, 2018, also Seekingalpha.com with their article: “Alibaba: Can It Keep Competitors At Bay?” published on February 07, 2018, Seekingalpha.com published: “Alibaba: Dear Muddy Waters, Here Are My Responses” on February 12, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Seekingalpha.com and their article: “Buy The Dip In Alibaba Stock” published on February 03, 2018 as well as Seekingalpha.com‘s news article titled: “Matthews Asia Innovators Fund Inv (MATFX) January Summary” with publication date: February 13, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 38 analysts covering Alibaba (NYSE:BABA), 36 have Buy rating, 1 Sell and 1 Hold. Therefore 95% are positive. Alibaba had 168 analyst reports since August 12, 2015 according to SRatingsIntel. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Buy” rating given on Friday, August 12 by SunTrust. TH Capital upgraded Alibaba Group Holding Limited (NYSE:BABA) on Friday, October 23 to “Buy” rating. The rating was maintained by Bank of America on Sunday, June 11 with “Buy”. Needham maintained the shares of BABA in report on Thursday, October 20 with “Buy” rating. The company was maintained on Friday, August 12 by JP Morgan. The firm has “Overweight” rating by Atlantic Securities given on Tuesday, August 22. RBC Capital Markets maintained Alibaba Group Holding Limited (NYSE:BABA) rating on Sunday, October 15. RBC Capital Markets has “Buy” rating and $185.0 target. Barclays Capital maintained Alibaba Group Holding Limited (NYSE:BABA) rating on Monday, August 21. Barclays Capital has “Overweight” rating and $200 target. The firm earned “Overweight” rating on Tuesday, June 27 by JP Morgan. The rating was maintained by Oppenheimer on Tuesday, August 22 with “Buy”.

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