Alibaba Group Holding Limited $BABA Shares Purchased by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,828 shares of the specialty retailer's stock after purchasing an additional 2,071 shares during the period. Quintet Private Bank Europe S.A.'s holdings in Alibaba Group were worth $7,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Somerset Trust Co purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at $579,000. TrueWealth Advisors LLC boosted its position in Alibaba Group by 10.2% in the 2nd quarter. TrueWealth Advisors LLC now owns 3,512 shares of the specialty retailer's stock valued at $398,000 after buying an additional 325 shares during the last quarter. Garde Capital Inc. boosted its holdings in Alibaba Group by 11.3% in the second quarter. Garde Capital Inc. now owns 2,228 shares of the specialty retailer's stock valued at $253,000 after purchasing an additional 226 shares during the last quarter. Voya Investment Management LLC increased its holdings in Alibaba Group by 1,048.9% during the 1st quarter. Voya Investment Management LLC now owns 454,980 shares of the specialty retailer's stock worth $60,162,000 after purchasing an additional 415,380 shares during the last quarter. Finally, Guinness Asset Management LTD increased its holdings in Alibaba Group by 30.8% during the 1st quarter. Guinness Asset Management LTD now owns 497 shares of the specialty retailer's stock worth $66,000 after purchasing an additional 117 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BABA has been the topic of several research reports. Robert W. Baird increased their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 2nd. Benchmark increased their price objective 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. Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Bank of America upped their price target on shares of Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $167.40.

Alibaba Group Stock Performance

NYSE:BABA opened at $155.02 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $369.57 billion, a PE ratio of 18.03, a PEG ratio of 1.90 and a beta of 0.11. The firm's fifty day simple moving average is $123.33 and its 200 day simple moving average is $122.41. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $156.85.

About Alibaba Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.