Ameriprise Financial Inc. Buys 108,052 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Ameriprise Financial Inc. has increased its stake in Alibaba Group by 22.9%, acquiring an additional 108,052 shares, bringing its total holdings to 579,704 shares valued at approximately $76.65 million.
• Other significant investors, including Mirae Asset Global Investments and Goldman Sachs, have also increased their holdings in Alibaba Group, indicating strong institutional interest in the stock.
• Analysts have set varied price targets for Alibaba Group, with the consensus price at $159.67 and a majority rating the stock as a "Moderate Buy."

Ameriprise Financial Inc. raised its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 579,704 shares of the specialty retailer's stock after acquiring an additional 108,052 shares during the quarter. Ameriprise Financial Inc.'s holdings in Alibaba Group were worth $76,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after purchasing an additional 4,246,564 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alibaba Group by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Trivest Advisors Ltd acquired a new stake in shares of Alibaba Group in the 1st quarter valued at $295,270,000. Finally, Invesco Ltd. increased its stake in shares of Alibaba Group by 55.9% in the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock valued at $464,526,000 after buying an additional 1,259,718 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BABA has been the topic of several recent research reports. Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. Mizuho reduced their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Robert W. Baird lowered their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a research note on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Price Performance

BABA opened at $124.18 on Wednesday. The stock has a market cap of $296.15 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.83 and a beta of 0.17. Alibaba Group Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $116.76 and a 200 day simple moving average of $121.47.

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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