Brooklyn Investment Group Raises Stake in Alibaba Group Holding Limited $BABA

Key Points

• Brooklyn Investment Group increased its stake in Alibaba Group Holding Limited by 1,021.7% during the first quarter, now holding shares worth approximately $1.52 million.
• Shares of Alibaba Group opened at $121.12, with a 52-week range between $79.21 and $148.43, and the company has a market cap of $288.85 billion.
• Wall Street analysts have given Alibaba a consensus rating of "Moderate Buy" with a price target of $157.38, despite some recent adjustments in ratings and price targets from various firms.

Brooklyn Investment Group lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 1,021.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,509 shares of the specialty retailer's stock after buying an additional 10,483 shares during the quarter. Brooklyn Investment Group's holdings in Alibaba Group were worth $1,522,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Alibaba Group by 3,214.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares during the last quarter. Trivest Advisors Ltd acquired a new position in Alibaba Group during the first quarter worth about $295,270,000. Invesco Ltd. raised its position in Alibaba Group by 55.9% during the first quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after acquiring an additional 1,259,718 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after acquiring an additional 1,030,999 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 0.1%

BABA traded up $0.15 during midday trading on Monday, hitting $121.41. The company's stock had a trading volume of 8,510,657 shares, compared to its average volume of 11,928,832. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a market cap of $289.54 billion, a P/E ratio of 16.30, a PEG ratio of 1.78 and a beta of 0.17. The firm has a 50-day moving average price of $116.23 and a two-hundred day moving average price of $120.75. Alibaba Group Holding Limited has a 52-week low of $79.21 and a 52-week high of $148.43.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BABA shares. Bank of America cut their target price on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research note on Tuesday, June 24th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Barclays cut their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Finally, Robert W. Baird cut their target price on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $157.38.

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.