BI Asset Management Fondsmaeglerselskab A S Grows Stock Position in Alibaba Group Holding Limited $BABA

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Alibaba Group by 89.3%, acquiring a total of 97,597 shares valued at approximately $12.9 million.
• Several institutional investors have also increased their holdings in Alibaba, with significant stakes acquired by firms like North Ridge Wealth Advisors and Hazlett Burt & Watson.
• Analysts have varied opinions on Alibaba's stock, with price targets ranging from $135 to $180, but the average rating is classified as a "Moderate Buy."

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 89.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,597 shares of the specialty retailer's stock after purchasing an additional 46,031 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Alibaba Group were worth $12,905,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

BABA has been the subject of several recent analyst reports. Mizuho reduced their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Arete lowered Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target on the stock. in a research note on Tuesday, June 24th. Bank of America decreased their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, July 11th. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a research note on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Stock Down 1.1%

BABA stock opened at $120.0630 on Wednesday. The company's 50 day simple moving average is $116.19 and its 200-day simple moving average is $120.74. The firm has a market capitalization of $286.33 billion, a PE ratio of 16.12, a P/E/G ratio of 1.79 and a beta of 0.17. Alibaba Group Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55.

Alibaba Group Company 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.

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