Alibaba Group Holding Limited $BABA Shares Acquired by TT International Asset Management LTD

Key Points

• TT International Asset Management LTD increased its stake in Alibaba Group by 16.4% during the second quarter, bringing its total ownership to 593,014 shares, valued at approximately $67.25 million.
• Analysts have been optimistic, with several firms revising their price targets for Alibaba, including Citigroup, which raised its target from $148 to $187.
• Currently, 13.47% of Alibaba's stock is held by institutional investors and hedge funds, indicating a significant interest from larger investment entities.

TT International Asset Management LTD increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 16.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 593,014 shares of the specialty retailer's stock after purchasing an additional 83,660 shares during the quarter. Alibaba Group makes up approximately 12.6% of TT International Asset Management LTD's investment portfolio, making the stock its 3rd largest position. TT International Asset Management LTD's holdings in Alibaba Group were worth $67,254,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new stake 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. Ransom Advisory Ltd purchased a new stake in Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the 1st quarter valued at $26,000. Finally, 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. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on BABA shares. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Benchmark upped their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Susquehanna increased their target price on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research note on Thursday. Barclays increased their target price on Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Finally, Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of "Buy" and a consensus price target of $168.81.

Alibaba Group Stock Performance

NYSE:BABA traded up $0.30 during mid-day trading on Friday, reaching $162.78. 18,148,834 shares of the stock were exchanged, compared to its average volume of 21,543,625. The company has a 50 day simple moving average of $127.80 and a 200-day simple moving average of $123.38. The stock has a market capitalization of $388.08 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.04 and a beta of 0.11. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $167.32.

Alibaba Group Company 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.