Verde Servicos Internacionais S.A. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,773 shares of the specialty retailer's stock after purchasing an additional 4,373 shares during the quarter. Alibaba Group accounts for approximately 3.4% of Verde Servicos Internacionais S.A.'s holdings, making the stock its 16th biggest position. Verde Servicos Internacionais S.A.'s holdings in Alibaba Group were worth $7,686,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the 1st quarter worth $26,000. Summit Securities Group LLC lifted its position in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the 1st quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.
Alibaba Group Trading Down 4.2%
Shares of Alibaba Group stock opened at $173.60 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50 day moving average price of $145.53 and a 200 day moving average price of $127.35. The company has a market capitalization of $413.88 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.14 and a beta of 0.18.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Benchmark increased their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Mizuho increased their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Jefferies Financial Group boosted their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Citigroup reaffirmed a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Finally, Erste Group Bank upgraded Alibaba Group from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $185.71.
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About Alibaba Group
(
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.
See Also
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