75,000 Shares in Alibaba Group Holding Limited $BABA Acquired by 7G Capital Management LLC

Key Points

• 7G Capital Management LLC has acquired 75,000 shares of Alibaba Group Holding Limited, valued at approximately $9.9 million, making it the firm's 5th largest holding at 8.5% of its portfolio.
• Alibaba Group shares have a recent trading increase of 4.0% and are currently priced at $122.85, with a market cap of approximately $293 billion.
• Several analysts have set price targets for Alibaba shares, with Morgan Stanley's target at $180.00 and a "Moderate Buy" rating indicating strong interest in the stock.

7G Capital Management LLC acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 75,000 shares of the specialty retailer's stock, valued at approximately $9,917,000. Alibaba Group accounts for 8.5% of 7G Capital Management LLC's portfolio, making the stock its 5th largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Accent Capital Management LLC lifted its stake in Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after acquiring an additional 82 shares during the period. Greenleaf Trust increased its holdings in shares of Alibaba Group by 1.0% during 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 in the last quarter. Marcum Wealth LLC increased its holdings in shares of Alibaba Group by 3.2% during 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 in the last quarter. Principal Securities Inc. increased its holdings in shares of Alibaba Group by 0.5% during 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 in the last quarter. Finally, Institute for Wealth Management LLC. increased its holdings in shares of Alibaba Group by 1.1% during 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 in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 4.0%

Shares of BABA opened at $122.8530 on Friday. Alibaba Group Holding Limited has a 52-week low of $79.21 and a 52-week high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $116.41 and its two-hundred day moving average is $121.16. The stock has a market cap of $292.98 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BABA shares. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a report on Friday, May 16th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Mizuho cut their price target on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Finally, Benchmark reissued a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of "Moderate Buy" and an average target price 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.

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