Assenagon Asset Management S.A. Takes Position in Alibaba Group Holding Limited $BABA

Key Points

• Assenagon Asset Management S.A. acquired 2,006,591 shares of Alibaba Group, valued at approximately $227.57 million, representing a 0.08% stake in the company by the end of the second quarter.
• Several institutional investors have increased their positions in Alibaba, with notable increases including Vise Technologies Inc. raising its stake by 811.6% in the fourth quarter.
• Analyst ratings for Alibaba are generally positive, with a consensus price target of $168.81 and one analyst rating it as a Strong Buy.

Assenagon Asset Management S.A. acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,006,591 shares of the specialty retailer's stock, valued at approximately $227,567,000. Assenagon Asset Management S.A. owned approximately 0.08% of Alibaba Group as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BABA. Brighton Jones LLC increased its holdings in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Alibaba Group by 10.3% during the fourth quarter. Vident Advisory LLC now owns 21,058 shares of the specialty retailer's stock valued at $1,786,000 after acquiring an additional 1,971 shares in the last quarter. Waverly Advisors LLC increased its holdings in shares of Alibaba Group by 184.6% during the fourth quarter. Waverly Advisors LLC now owns 22,299 shares of the specialty retailer's stock valued at $1,891,000 after acquiring an additional 14,464 shares in the last quarter. JT Stratford LLC increased its holdings in Alibaba Group by 7.8% in the 4th quarter. JT Stratford LLC now owns 6,838 shares of the specialty retailer's stock worth $580,000 after buying an additional 496 shares during the period. Finally, Vise Technologies Inc. increased its holdings in Alibaba Group by 811.6% in the 4th quarter. Vise Technologies Inc. now owns 25,644 shares of the specialty retailer's stock worth $2,174,000 after buying an additional 22,831 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Stock Performance

Alibaba Group stock traded up $1.40 during mid-day trading on Monday, hitting $164.21. The company had a trading volume of 15,492,341 shares, compared to its average volume of 21,505,750. 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 Holding Limited has a 12-month low of $80.06 and a 12-month high of $167.44. The company's fifty day moving average is $128.92 and its 200-day moving average is $123.37. The company has a market capitalization of $391.48 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 2.00 and a beta of 0.11.

Analysts Set New Price Targets

Several brokerages recently weighed in on BABA. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 price target on shares of Alibaba Group in a report on Saturday, August 30th. UBS Group reiterated a "buy" rating and issued a $162.00 price target on shares of Alibaba Group in a report on Sunday, August 31st. Susquehanna increased their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a report on Thursday. Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Finally, Barclays increased their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Alibaba Group presently has an average rating of "Buy" and an average price target of $168.81.

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.