5,500 Shares in Alibaba Group Holding Limited $BABA Purchased by Turn8 Private Wealth Inc.

Key Points

• Turn8 Private Wealth Inc. acquired 5,500 shares of Alibaba Group, valued at approximately $727,000, as part of their new stake in the company during the 1st quarter.
• Several institutional investors, including Mirae Asset and Goldman Sachs, significantly increased their stakes in Alibaba, indicating growing confidence in the company's future.
• Analysts have mixed ratings for Alibaba, with a recent target price increase by Bank of America to $152.00, while maintaining a consensus rating of "Buy".

Turn8 Private Wealth Inc. acquired 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 disclosure with the SEC. The institutional investor acquired 5,500 shares of the specialty retailer's stock, valued at approximately $727,000.

A number of other institutional investors have also bought and sold shares of BABA. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alibaba Group by 3,214.5% during 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 buying an additional 4,246,564 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of 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 acquiring an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of 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 valued at $1,136,554,000 after acquiring an additional 2,584,480 shares during the last quarter. Finally, Trivest Advisors Ltd purchased a new stake in shares of Alibaba Group in the first quarter valued at about $295,270,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BABA. Bank of America lifted their target price on shares of Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a research report on Saturday, August 30th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a report on Wednesday, May 14th. Finally, Benchmark increased their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $167.40.

Alibaba Group Trading Down 2.2%

BABA opened at $143.86 on Thursday. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $121.47 and a 200-day simple moving average of $122.30. The firm has a market cap of $342.99 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.05 and a beta of 0.11.

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.

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