Boothe Investment Group Inc. Purchases 3,541 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Boothe Investment Group Inc. increased its stake in Alibaba Group Holding Limited by 6.5%, acquiring an additional 3,541 shares, bringing their total holdings to 57,720 shares worth $6,546,000.
• Several analysts have recently upgraded their ratings and target prices for Alibaba Group, with Benchmark setting a target price of $195.00, reflecting positive sentiment among market experts.
• Institutional investors currently own 13.47% of Alibaba Group's stock, indicating growing interest from large financial entities in the company.

Boothe Investment Group Inc. grew its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,720 shares of the specialty retailer's stock after purchasing an additional 3,541 shares during the quarter. Alibaba Group makes up about 2.5% of Boothe Investment Group Inc.'s investment portfolio, making the stock its 17th largest holding. Boothe Investment Group Inc.'s holdings in Alibaba Group were worth $6,546,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BABA. Brighton Jones LLC boosted its position in shares of Alibaba Group by 40.4% in the fourth 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. Spire Wealth Management lifted its holdings in shares of Alibaba Group by 54.0% in the first quarter. Spire Wealth Management now owns 5,873 shares of the specialty retailer's stock worth $777,000 after buying an additional 2,059 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Alibaba Group by 788.3% in the first quarter. Bessemer Group Inc. now owns 7,293 shares of the specialty retailer's stock worth $964,000 after buying an additional 6,472 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Alibaba Group by 67.6% in the first quarter. Golden State Wealth Management LLC now owns 1,193 shares of the specialty retailer's stock worth $158,000 after buying an additional 481 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in shares of Alibaba Group in the first quarter worth $288,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BABA shares. Benchmark boosted their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Susquehanna boosted their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a report on Thursday, September 18th. Erste Group Bank raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. UBS Group reaffirmed a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Alibaba Group has a consensus rating of "Moderate Buy" and a consensus price target of $190.18.

Alibaba Group Trading Up 1.5%

Shares of BABA opened at $174.49 on Friday. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The company has a market cap of $416.00 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.30 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company's fifty day simple moving average is $155.80 and its 200-day simple moving average is $130.53.

Alibaba Group 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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