Credit Agricole S A Has $38.67 Million Position in Alibaba Group Holding Limited $BABA

Key Points

• Credit Agricole S A increased its stake in Alibaba Group by 523.3% in the first quarter, now holding $38.67 million worth of shares.
• Other institutional investors, including American Century Companies and Fiduciary Alliance, also expanded their positions in Alibaba during the same period, indicating strong interest in the stock.
• Despite recent downgrades from several analysts, the stock has an average rating of "Moderate Buy" with a target price of $159.67.

Credit Agricole S A grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 523.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 292,443 shares of the specialty retailer's stock after purchasing an additional 245,522 shares during the quarter. Credit Agricole S A's holdings in Alibaba Group were worth $38,670,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after purchasing an additional 785,494 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Alibaba Group during the first quarter worth $4,074,000. KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group during the first quarter worth $1,948,000. Avaii Wealth Management LLC bought a new stake in shares of Alibaba Group during the first quarter worth $563,000. Finally, Fiduciary Alliance LLC raised its position in shares of Alibaba Group by 18.3% during the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock worth $15,596,000 after acquiring an additional 18,230 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BABA shares. Bank of America dropped their target price on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research report on Tuesday, June 24th. Robert W. Baird dropped their target price on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Trading Down 1.1%

NYSE BABA opened at $120.0630 on Wednesday. The stock has a 50-day simple moving average of $116.19 and a 200 day simple moving average of $120.74. The company has a market capitalization of $286.33 billion, a PE ratio of 16.12, a P/E/G ratio of 1.79 and a beta of 0.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12 month low of $79.21 and a 12 month high of $148.43.

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.

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