Caxton Associates LLP Buys New Stake in Alibaba Group Holding Limited $BABA

Key Points

• Caxton Associates LLP has invested approximately $6.91 million in Alibaba Group by purchasing 52,289 shares during the 1st quarter.
• Other institutional investors have also increased their stakes in Alibaba, with Hamilton Capital LLC and Temasek Holdings Private Ltd growing their positions by 36.5% and 23.4%, respectively.
• Wall Street analysts maintain a consensus rating of "Buy" for Alibaba, with price targets averaging $163.53, indicating potential for growth in the stock.

Caxton Associates LLP purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 52,289 shares of the specialty retailer's stock, valued at approximately $6,914,000.

Other hedge funds have also made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC lifted its position in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. Inlight Wealth Management LLC purchased a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $31,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Alibaba Group in the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

NYSE:BABA traded down $3.24 during midday trading on Wednesday, reaching $143.86. The stock had a trading volume of 20,591,324 shares, compared to its average volume of 21,322,727. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43. The firm's fifty day simple moving average is $120.81 and its 200-day simple moving average is $122.15. 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 stock has a market capitalization of $342.99 billion, a P/E ratio of 16.73, a PEG ratio of 1.97 and a beta of 0.11.

Analyst Upgrades and Downgrades

BABA has been the topic of several research reports. Citigroup upped their price objective on shares of Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Sanford C. Bernstein reiterated an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective on the stock in a research note on Wednesday, September 3rd. Bank of America upped their price objective on shares of Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Benchmark upped their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $167.40.

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.