Driehaus Capital Management LLC Invests $4.80 Million in Alibaba Group Holding Limited $BABA

Key Points

• Driehaus Capital Management LLC has purchased a new stake in Alibaba Group, acquiring 36,298 shares valued at approximately $4.8 million during the first quarter.
• Recent analyst ratings for Alibaba Group have varied, with a mix of upgrades and downgrades; currently, the average rating is a "Moderate Buy" with a price target of $159.67.
• As of the last trading session, Alibaba Group's stock is up 13.0%, with shares opening at $135.11 and a market capitalization of $322.22 billion.

Driehaus Capital Management LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 36,298 shares of the specialty retailer's stock, valued at approximately $4,800,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC lifted its position in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares in the last quarter. Inlight Wealth Management LLC bought a new position in shares of Alibaba Group in the 1st quarter worth $31,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Alibaba Group during the 1st quarter valued at $31,000. Institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BABA shares. Morgan Stanley set a $180.00 price target on Alibaba Group in a research note 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. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Finally, Bank of America lowered their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $159.69.

Alibaba Group Trading Up 13.0%

BABA traded up $15.54 on Monday, hitting $135.11. 82,003,855 shares of the company were exchanged, compared to its average volume of 14,601,554. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a fifty day simple moving average of $117.51 and a two-hundred day simple moving average of $121.72. The stock has a market capitalization of $322.14 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $148.43.

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.