JustInvest LLC trims stake in Alibaba, stock gains

According to its most recent filing with the U.S. Securities and Exchange Commission (SEC), JustInvest LLC reduced its holdings in Alibaba Group Holding Limited (NYSE:BABA) by about 16.3% in the third quarter. After selling 734 shares during the quarter, the institutional investor now owns 3,778 shares of the specialty retailer’s stock. According to the data of the most recent quarter, JustInvest LLC’s stake in Alibaba Group was worth $559,000 at the end of that quarter.

BABA stock performance

On Wednesday, the BABA stock began trading at $132.19. The company has a $358.36 billion market capitalization. The price-to-earnings ratio stands at 18.97. Moreover, Alibaba has a PEG ratio of 1.24, and its beta stands at 0.90. Alibaba Group Holding Limited has a low of $108.70 and a high of $274.29 in the last year. The company’s 50-day and 200-day simple moving averages are $134.15 and $163.85, respectively. The debt-to-equity ratio of the company is 0.12, the current ratio is 1.64, and the quick ratio is 1.65.

The Alibaba stock traded at $136.66 ( up by 4.47 points), gaining 3.38% at 10:25 a.m. ET today. The market capitalization then stood at $369.9 billion. Today’s high for the stock was $138.70. The share volume traded for the BABA stock stood at 10,398,543, much closer to its average share volume of 14,981,030.

Earlier last Friday, the BABA stock was up about 4% in pre-market trading session. BABA stock was priced at $130.88 as of 7:11 a.m. ET, up 3.36 percent or $4.25 from the previous day. On the last Thursday, its price value increased by 4.5 percent, or $5.47. Its market capitalization was $343.2 billion, based on 31,057,102 shares. However, the stock is still trading below its 50-day and 200-day moving averages.

The stock has been gaining substantially in recent times. However, will it keep the positive momentum going or change the course overtime is a question its investors and supporters need to think about.

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