Ascent Group LLC Invests $421,000 in Alibaba Group Holding Limited $BABA

Ascent Group LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,184 shares of the specialty retailer's stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BABA. Brighton Jones LLC grew its stake in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares during the period. Captrust Financial Advisors grew its stake in shares of Alibaba Group by 5.0% during the 4th quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock worth $950,000 after purchasing an additional 536 shares during the period. Focus Partners Wealth lifted its position in shares of Alibaba Group by 11.2% during the 4th quarter. Focus Partners Wealth now owns 14,537 shares of the specialty retailer's stock valued at $1,254,000 after buying an additional 1,464 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of Alibaba Group by 15.0% during the 4th quarter. Quantinno Capital Management LP now owns 22,612 shares of the specialty retailer's stock valued at $1,917,000 after buying an additional 2,953 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its position in shares of Alibaba Group by 1,632.3% during the 4th quarter. Point72 Hong Kong Ltd now owns 545,257 shares of the specialty retailer's stock valued at $46,232,000 after buying an additional 513,781 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Up 8.1%

Shares of BABA stock opened at $155.55 on Friday. The stock's fifty day moving average is $122.41 and its two-hundred day moving average is $122.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $370.87 billion, a P/E ratio of 18.09, a PEG ratio of 2.01 and a beta of 0.11. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $156.85.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BABA. Robert W. Baird increased their target price on Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Benchmark increased their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. UBS Group reiterated a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $167.40.

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.

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