8,000 Shares in Alibaba Group Holding Limited $BABA Bought by Alight Capital Management LP

Key Points

• Alight Capital Management LP purchased 8,000 shares of Alibaba Group Holding Limited, valued at approximately $1,058,000, during the first quarter.
• Analysts have given Alibaba a consensus rating of "Moderate Buy" with an average price target of $163.60, with several firms including UBS and Jefferies setting targets as high as $195.00.
• As of Wednesday, Alibaba's stock opened at $138.63 and has a market capitalization of approximately $330.53 billion, along with a P/E ratio of 16.12.

Alight Capital Management LP purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,000 shares of the specialty retailer's stock, valued at approximately $1,058,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group in the 1st quarter valued at $26,000. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Alibaba Group in the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC acquired a new position in Alibaba Group in the 1st quarter valued at $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of BABA traded up $4.57 during trading hours on Friday, hitting $135.49. 19,166,179 shares of the company were exchanged, compared to its average volume of 17,007,000. The company has a market cap of $323.03 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.83 and a beta of 0.11. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $119.59 and its 200 day moving average is $122.11.

Analyst Ratings Changes

A number of research analysts have commented on the company. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective on the stock in a report on Wednesday. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. UBS Group reaffirmed a "buy" rating and issued a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. Robert W. Baird increased their target price on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Jefferies Financial Group set a $165.00 target price on Alibaba Group and gave the stock a "buy" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat.com, Alibaba Group has a consensus rating of "Buy" and an average target price of $163.53.

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.