Amundi Has $108.49 Million Position in Alibaba Group Holding Limited $BABA

Key Points

• Amundi increased its stock position in Alibaba Group by 29.8%, acquiring an additional 192,780 shares, bringing its total holdings to 838,838 shares worth approximately $108.5 million.
• Other hedge funds have also boosted their stakes in Alibaba, with Aptus Capital Advisors increasing their holdings by 68.1% during the fourth quarter.
• Analyst sentiment is primarily positive, with research indicating that Alibaba has a consensus rating of "Buy" and a target price ranging from $152.00 to $176.00.

Amundi boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 29.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 838,838 shares of the specialty retailer's stock after purchasing an additional 192,780 shares during the quarter. Amundi's holdings in Alibaba Group were worth $108,487,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after purchasing an additional 785,494 shares during the period. Causeway Capital Management LLC boosted its position in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock valued at $179,305,000 after acquiring an additional 404,842 shares during the period. WCM Investment Management LLC bought a new stake in shares of Alibaba Group in the first quarter valued at approximately $4,074,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group in the first quarter valued at approximately $1,948,000. Finally, Avaii Wealth Management LLC bought a new stake in shares of Alibaba Group in the first quarter valued at approximately $563,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

BABA stock traded up $4.57 during midday trading on Friday, hitting $135.49. The stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,478,944. The firm has a market capitalization of $323.03 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.89 and a beta of 0.11. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The stock has a 50-day simple moving average of $119.59 and a 200 day simple moving average of $122.09. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America increased their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. UBS Group reissued a "buy" rating and issued a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. Citigroup increased their price objective on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $163.53.

Alibaba Group 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.