Suvretta Capital Management LLC Has Cut Position in Alibaba Group Hldg LTD (BABA) as Shares Rose

January 22, 2018 - By Nellie Frank

Aaron Cowen decreased its stake in Alibaba Group Hldg Ltd (BABA) by 16.91% based on its latest 2017Q3 regulatory filing with the SEC. Suvretta Capital Management Llc sold 372,160 shares as the company’s stock rose 22.58% with the market. The hedge fund run by Aaron Cowen held 1.83M shares of the business services company at the end of 2017Q3, valued at $315.88 million, down from 2.20 million at the end of the previous reported quarter. Suvretta Capital Management Llc who had been investing in Alibaba Group Hldg Ltd for a number of months, seems to be less bullish one the $472.24 billion market cap company. The stock decreased 0.19% or $0.35 during the last trading session, reaching $184.05. About 15.35M shares traded. Alibaba Group Holding Limited (NYSE:BABA) has risen 57.33% since January 22, 2017 and is uptrending. It has outperformed by 40.63% the S&P500.

Suvretta Capital Management Llc, which manages about $998.31M and $3.54B US Long portfolio, upped its stake in Constellation Brands Inc (NYSE:STZ) by 101,490 shares to 1.78 million shares, valued at $354.82M in 2017Q3, according to the filing. It also increased its holding in Comcast Corp New (NASDAQ:CMCSA) by 2.48M shares in the quarter, for a total of 9.31M shares, and has risen its stake in F M C Corp (NYSE:FMC).

Analysts await Alibaba Group Holding Limited (NYSE:BABA) to report earnings on January, 23. They expect $1.45 earnings per share, up 33.03 % or $0.36 from last year’s $1.09 per share. BABA’s profit will be $3.72B for 31.73 P/E if the $1.45 EPS becomes a reality. After $1.02 actual earnings per share reported by Alibaba Group Holding Limited for the previous quarter, Wall Street now forecasts 42.16 % EPS growth.

More notable recent Alibaba Group Holding Limited (NYSE:BABA) news were published by: Fool.com which released: “Why Alibaba Group Holding Ltd. Shares Doubled in 2017” on January 08, 2018, also Usnews.com with their article: “Alibaba Is One of the Best Stocks to Buy for 2018” published on January 08, 2018, Investorplace.com published: “Alibaba Group Holding Ltd Stock Doesn’t Need US Market to Prosper” on January 05, 2018. More interesting news about Alibaba Group Holding Limited (NYSE:BABA) were released by: Usnews.com and their article: “Here’s How Alibaba Is Beating Google” published on January 03, 2018 as well as Investorplace.com‘s news article titled: “Concerns Are Building for Alibaba Group Holding Ltd Stock” with publication date: January 18, 2018.

Alibaba Group Holding Limited (NYSE:BABA) Ratings Coverage

Among 37 analysts covering Alibaba (NYSE:BABA), 35 have Buy rating, 1 Sell and 1 Hold. Therefore 95% are positive. Alibaba has $240.0 highest and $75 lowest target. $161.97’s average target is -12.00% below currents $184.05 stock price. Alibaba had 158 analyst reports since August 12, 2015 according to SRatingsIntel. On Friday, August 12 the stock rating was maintained by Deutsche Bank with “Buy”. The stock of Alibaba Group Holding Limited (NYSE:BABA) has “Overweight” rating given on Thursday, December 8 by Morgan Stanley. Needham maintained Alibaba Group Holding Limited (NYSE:BABA) on Thursday, June 8 with “Buy” rating. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Buy” rating by Robert W. Baird on Thursday, September 21. The company was maintained on Tuesday, June 21 by Goldman Sachs. Jefferies maintained Alibaba Group Holding Limited (NYSE:BABA) on Thursday, November 3 with “Buy” rating. The stock of Alibaba Group Holding Limited (NYSE:BABA) earned “Overweight” rating by Barclays Capital on Monday, August 21. As per Monday, June 26, the company rating was maintained by Oppenheimer. As per Saturday, August 22, the company rating was maintained by JP Morgan. The stock has “Outperform” rating by Oppenheimer on Monday, November 6.

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