30,050 Shares in Alibaba Group Holding Limited $BABA Acquired by RD Finance Ltd

Key Points

• RD Finance Ltd acquired a new stake of 30,050 shares of Alibaba (NYSE: BABA) in Q2, worth about $3.41 million, representing roughly 4.5% of the firm's portfolio and its eighth-largest holding.
• Alibaba shares opened at $164.91 (12‑month range $80.06–$192.67) with a market cap of about $393.5 billion, a P/E of 19.18, and 50-/200‑day moving averages near $163.88 and $134.48 respectively.
• Analyst sentiment is a “Moderate Buy” consensus with an average price target of $190.18 (1 Strong Buy, 17 Buy, 1 Sell), and several firms recently raised their targets.

RD Finance Ltd acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 30,050 shares of the specialty retailer's stock, valued at approximately $3,408,000. Alibaba Group comprises about 4.5% of RD Finance Ltd's investment portfolio, making the stock its 8th biggest position.

A number of other institutional investors have also recently made changes to their positions in BABA. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $26,000. Summit Securities Group LLC boosted its holdings in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group during the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Up 0.4%

BABA stock opened at $164.91 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The stock has a market cap of $393.48 billion, a P/E ratio of 19.18, a PEG ratio of 2.40 and a beta of 0.19. The business's 50-day moving average price is $163.88 and its 200-day moving average price is $134.48.

Analyst Upgrades and Downgrades

BABA has been the topic of several research reports. JPMorgan Chase & Co. dropped their target price on shares of Alibaba Group from $245.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, October 9th. Sanford C. Bernstein raised their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, October 10th. CLSA raised their price target on Alibaba Group from $155.00 to $200.00 and gave the stock an "outperform" rating in a research note on Thursday, October 2nd. Robert W. Baird raised their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Alibaba Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $190.18.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.