2,094,150 Shares in Alibaba Group Holding Limited $BABA Purchased by Axiom Investors LLC DE

Key Points

• Axiom Investors LLC DE acquired 2,094,150 shares of Alibaba Group valued at approximately $276.9 million, making it the fund's 15th largest holding at 2.6% of its total portfolio.
• Several institutional investors have increased their stakes in Alibaba Group, highlighting a growing interest in the company, with 13.47% of the stock now held by hedge funds and other institutional investors.
• Analysts have set a consensus target price of $163.53 for Alibaba shares, with notes of bullish ratings from firms such as Citigroup and UBS Group.

Axiom Investors LLC DE acquired a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,094,150 shares of the specialty retailer's stock, valued at approximately $276,909,000. Alibaba Group makes up about 2.6% of Axiom Investors LLC DE's holdings, making the stock its 15th largest holding. Axiom Investors LLC DE owned about 0.09% of Alibaba Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Accent Capital Management LLC raised its stake in Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after purchasing an additional 82 shares during the last quarter. Greenleaf Trust raised its stake in Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the last quarter. Marcum Wealth LLC raised its stake in Alibaba Group by 3.2% in the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares during the last quarter. Principal Securities Inc. raised its stake in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after purchasing an additional 89 shares during the last quarter. Finally, Institute for Wealth Management LLC. raised its stake in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the subject of several analyst reports. Citigroup boosted their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. UBS Group reaffirmed a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research note on Wednesday, May 14th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Finally, Arete raised shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $163.53.

Alibaba Group Stock Up 3.5%

BABA opened at $135.49 on Monday. The firm has a 50 day moving average price of $119.59 and a 200 day moving average price of $121.99. The company has a market cap of $323.03 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Alibaba Group Company 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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.