Baird Financial Group Inc. Boosts Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• Baird Financial Group Inc. increased its stake in Alibaba Group by 17%, accumulating a total of 456,663 shares valued at approximately $60 million as of the latest quarter.
• Alibaba Group's stock experienced a significant 13% increase, with recent trading prices reaching $135.11.
• Analysts have mixed views on Alibaba, with ratings ranging from a "buy" to a "hold," and an average target price of $159.67 despite some recent downward adjustments.

Baird Financial Group Inc. increased its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 456,663 shares of the specialty retailer's stock after purchasing an additional 66,430 shares during the quarter. Baird Financial Group Inc.'s holdings in Alibaba Group were worth $60,385,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BABA. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC lifted its holdings in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group during the first quarter worth $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BABA. Arete Research set a $152.00 target price on Alibaba Group in a report on Tuesday. Benchmark raised their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a report on Wednesday. Jefferies Financial Group set a $165.00 target price on Alibaba Group and gave the company a "buy" rating in a report on Friday. Finally, UBS Group reissued a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a report on Sunday. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and a consensus target price of $163.53.

Alibaba Group Price Performance

Shares of NYSE:BABA traded down $2.11 during midday trading on Wednesday, hitting $136.44. 16,304,872 shares of the stock were exchanged, compared to its average volume of 21,261,238. The stock has a market cap of $325.31 billion, a P/E ratio of 15.87, a PEG ratio of 1.99 and a beta of 0.11. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43. The company has a 50 day moving average price of $118.38 and a 200-day moving average price of $121.91.

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.