Castle Rock Wealth Management LLC Makes New $270,000 Investment in Alibaba Group Holding Limited $BABA

Key Points

• Castle Rock Wealth Management LLC has made a new investment in Alibaba Group, acquiring 2,235 shares valued at approximately $270,000 during the second quarter.
• Institutional investors have shown a strong interest in Alibaba, with several firms increasing their stakes significantly, including GAMMA Investing LLC, which raised its stake by an astonishing 13,483.0%.
• Analysts have raised their price targets for Alibaba, with firms like Mizuho and JPMorgan increasing targets to $159.00 and $245.00, respectively, indicating a consensus rating of "Buy."

Castle Rock Wealth Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,235 shares of the specialty retailer's stock, valued at approximately $270,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BABA. Brighton Jones LLC lifted its stake in Alibaba Group by 40.4% during 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 last quarter. GAMMA Investing LLC lifted its stake in Alibaba Group by 13,483.0% during the first quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock worth $2,640,000 after purchasing an additional 19,820 shares during the last quarter. UMB Bank n.a. lifted its stake in Alibaba Group by 33.4% during the first quarter. UMB Bank n.a. now owns 1,207 shares of the specialty retailer's stock worth $160,000 after purchasing an additional 302 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Alibaba Group during the first quarter worth $205,000. Finally, Sanibel Captiva Trust Company Inc. lifted its stake in Alibaba Group by 7.2% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 14,821 shares of the specialty retailer's stock worth $1,960,000 after purchasing an additional 1,000 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Price Performance

Shares of BABA opened at $181.15 on Thursday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $431.88 billion, a price-to-earnings ratio of 21.06, a price-to-earnings-growth ratio of 2.14 and a beta of 0.18. The business has a 50-day moving average of $144.47 and a 200-day moving average of $127.08.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of research reports. Mizuho increased their price target on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. increased their price target on Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a research note on Wednesday, October 1st. Robert W. Baird increased their price target on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Barclays increased their price target on Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of "Buy" and an average price target of $184.19.

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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