Alibaba Group Holding Limited $BABA Shares Purchased by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA significantly increased its stake in Alibaba Group by 355.2% during the 2nd quarter, owning 162,959 shares valued at approximately $17.94 million.
• Institutional investors and hedge funds now own 13.47% of Alibaba Group's stock, reflecting growing interest among major financial players.
• Analysts maintain a consensus of "Buy" on Alibaba Group stock, with price targets ranging between $162.00 and $230.00, indicating optimistic growth prospects.

Union Bancaire Privee UBP SA grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 355.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,959 shares of the specialty retailer's stock after purchasing an additional 127,161 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Alibaba Group were worth $17,941,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter worth $26,000. Summit Securities Group LLC boosted its stake in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the 1st quarter worth $26,000. 1248 Management LLC acquired a new stake in Alibaba Group during the 1st quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BABA. UBS Group reaffirmed a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Benchmark lifted their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Jefferies Financial Group lifted their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a "buy" rating in a report on Monday. Finally, Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a report on Wednesday, September 3rd. One investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $176.06.

Alibaba Group Stock Up 4.6%

Shares of BABA opened at $179.89 on Tuesday. The firm has a market cap of $428.88 billion, a P/E ratio of 20.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.11. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $181.34. The company's 50-day moving average price is $135.57 and its 200 day moving average price is $124.79. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.

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