Caisse DE Depot ET Placement DU Quebec Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Caisse de Depot et Placement du Quebec has acquired 708,200 shares in Alibaba Group, valued at approximately $93.6 million, marking a significant new investment in the company.
• Major institutional investors, like Goldman Sachs and Price T Rowe Associates, have also increased their holdings in Alibaba Group, demonstrating growing interest among large financial entities.
• Despite some analysts downgrading Alibaba's stock rating, it maintains a consensus rating of "Moderate Buy" with a target price of approximately $159.67.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 708,200 shares of the specialty retailer's stock, valued at approximately $93,645,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in shares of 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 valued at $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Bank of America Corp DE raised its position in shares of Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after buying an additional 438,537 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alibaba Group by 19.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after buying an additional 752,275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 valued at $578,992,000 after buying an additional 4,246,564 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $124.35 on Tuesday. 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 stock has a market capitalization of $296.55 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.81 and a beta of 0.17. Alibaba Group Holding Limited has a 1-year low of $79.21 and a 1-year high of $148.43. The firm's 50-day moving average price is $116.58 and its two-hundred day moving average price is $121.45.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Arete lowered shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price target for the company. in a research report on Tuesday, June 24th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Arete Research lowered shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Finally, Benchmark reissued a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.