Callan Family Office LLC Buys 3,789 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Callan Family Office LLC significantly increased its investment in Alibaba Group by 164.7%, acquiring an additional 3,789 shares, bringing its total to 6,090 shares valued at $691,000.
• Multiple analysts have raised their price targets for Alibaba shares, with Sanford C. Bernstein setting a new target of $200.00 and Nomura increasing theirs to $215.00, indicating a positive outlook for the company.
• Alibaba Group's shares have seen a significant price range over the past year, with a fifty-two week low of $80.06 and a high of $192.67, and currently stand at approximately $166.75.

Callan Family Office LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 164.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,090 shares of the specialty retailer's stock after acquiring an additional 3,789 shares during the period. Callan Family Office LLC's holdings in Alibaba Group were worth $691,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Accent Capital Management LLC lifted its stake in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after purchasing an additional 82 shares during the last quarter. Greenleaf Trust lifted its stake in Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after purchasing an additional 85 shares during the last quarter. Principal Securities Inc. lifted its stake in Alibaba Group by 0.5% in the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after purchasing an additional 89 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in Alibaba Group by 1.1% in the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after purchasing an additional 93 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer's stock worth $1,109,000 after purchasing an additional 94 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BABA shares. Sanford C. Bernstein boosted their price target on shares of Alibaba Group from $167.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday. Nomura boosted their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Bank of America upped their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Zacks Research raised shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of "Buy" and a consensus target price of $188.06.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $166.75 on Tuesday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The company has a 50 day simple moving average of $147.35 and a two-hundred day simple moving average of $127.68. The company has a market capitalization of $397.55 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 1.99 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

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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