2,600 Shares in Alibaba Group Holding Limited $BABA Purchased by Corient IA LLC

Key Points

• Corient IA LLC has purchased a new stake in Alibaba Group Holding Limited, acquiring 2,600 shares valued at approximately $344,000.
• Institutional investors have significantly increased their positions in Alibaba, with notable increases from Mirae Asset Global Investments and Goldman Sachs, reflecting a growing confidence in the company's stock.
• Wall Street analysts have mixed views on Alibaba, with ratings ranging from "buy" to "hold", and a consensus price target of $157.38.

Corient IA LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,600 shares of the specialty retailer's stock, valued at approximately $344,000.

Several other hedge funds have also recently added to or reduced their stakes in BABA. American Century Companies Inc. increased its position in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after purchasing an additional 785,494 shares during the period. WCM Investment Management LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $1,948,000. Avaii Wealth Management LLC bought a new stake in shares of Alibaba Group during the first quarter valued at approximately $563,000. Finally, Fiduciary Alliance LLC increased its position in shares of Alibaba Group by 18.3% during the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Trading Down 1.1%

Shares of NYSE BABA traded down $1.3370 during midday trading on Tuesday, hitting $120.0630. The stock had a trading volume of 8,063,306 shares, compared to its average volume of 11,459,474. The company's 50-day simple moving average is $116.23 and its 200 day simple moving average is $120.75. The firm has a market cap of $286.33 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.79 and a beta of 0.17. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BABA shares. Bank of America cut their target price on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Mizuho cut their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays cut their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.