Resolute Capital Asset Partners LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 50,000 shares of the specialty retailer's stock, valued at approximately $6,612,000. Alibaba Group accounts for about 3.7% of Resolute Capital Asset Partners LLC's holdings, making the stock its 6th largest holding.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Alibaba Group by 43.0% in the first 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 purchasing an additional 2,584,480 shares during the period. Bank of America Corp DE increased its stake in Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after purchasing an additional 752,275 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Mizuho cut their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Bank of America cut their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Finally, Robert W. Baird cut their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.67.
View Our Latest Stock Report on Alibaba Group
Alibaba Group Stock Up 4.0%
BABA stock traded up $4.7630 during trading on Friday, reaching $122.8530. 13,809,464 shares of the company traded hands, compared to its average volume of 11,180,659. Alibaba Group Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43. The business has a 50 day simple moving average of $116.41 and a 200 day simple moving average of $121.31. The company 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. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55.
Alibaba Group Company Profile
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Free Report)
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.
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