Ardsley Advisory Partners LP Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Ardsley Advisory Partners LP has acquired a new stake in Alibaba Group, purchasing 9,000 shares valued at approximately $1.19 million in the first quarter of the year.
• Several investors, including Accent Capital Management and Greenleaf Trust, have also increased their positions in Alibaba Group, collectively holding about 13.47% of the company's stock currently owned by institutional investors.
• Multiple analysts have given Alibaba a "buy" rating and adjusted their price targets, with the consensus target set at $163.60.

Ardsley Advisory Partners LP purchased a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,000 shares of the specialty retailer's stock, valued at approximately $1,190,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. Trivest Advisors Ltd purchased a new position in Alibaba Group during the first quarter valued at $295,270,000. Finally, Axiom Investors LLC DE bought a new stake in shares of Alibaba Group during the 1st quarter valued at $276,909,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 3.5%

BABA traded up $4.57 during trading on Friday, hitting $135.49. 19,166,179 shares of the company's stock traded hands, compared to its average volume of 17,007,000. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $148.43. The company's 50 day simple moving average is $119.59 and its two-hundred day simple moving average is $122.11. The company has a current ratio of 1.45, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $323.03 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 1.83 and a beta of 0.11.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research report on Tuesday. Robert W. Baird boosted their price target on Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group reaffirmed a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research report on Sunday, August 31st. Morgan Stanley set a $180.00 target price on Alibaba Group in a report on Wednesday, May 14th. Finally, Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat, Alibaba Group has an average rating of "Buy" and an average target price of $163.53.

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.