1832 Asset Management L.P. Has $69.28 Million Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• 1832 Asset Management L.P. significantly increased its stake in Alibaba Group by 952.6% in the first quarter, now holding 523,895 shares valued at approximately $69 million.
• Several other institutions have also boosted their investments in Alibaba, reflecting a growing interest among hedge funds in the company, which currently has 13.47% of its stock owned by institutional investors.
• Alibaba Group's stock is trading at approximately $122.85, with an average rating of "Moderate Buy" from analysts, who have set a consensus price target of $159.67.

1832 Asset Management L.P. raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 952.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 523,895 shares of the specialty retailer's stock after purchasing an additional 474,122 shares during the period. 1832 Asset Management L.P.'s holdings in Alibaba Group were worth $69,275,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BABA. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the period. Goldman Sachs Group Inc. raised its holdings in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after buying an additional 2,584,480 shares during the period. Trivest Advisors Ltd acquired a new stake in Alibaba Group during the 1st quarter worth approximately $295,270,000. Finally, Invesco Ltd. grew its stake in shares of Alibaba Group by 55.9% during the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after acquiring an additional 1,259,718 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

BABA stock traded up $4.7630 during midday trading on Friday, reaching $122.8530. 13,809,464 shares of the company were exchanged, compared to its average volume of 11,180,659. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The business has a 50-day moving average price of $116.41 and a two-hundred day moving average price of $121.16. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43. The firm has a market capitalization of $292.98 billion, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17.

Analyst Ratings Changes

Several brokerages have recently weighed in on BABA. Robert W. Baird decreased their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Mizuho decreased their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, Barclays decreased their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $159.67.

Alibaba Group Profile

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. The company operates through seven segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others.