Alibaba Group Holding Limited $BABA Shares Purchased by Everstar Asset Management LLC

Key Points

• Everstar Asset Management LLC increased its stake in Alibaba Group by 42.8%, acquiring an additional 2,672 shares, bringing its total holdings to 8,920 shares valued at approximately $1.238 million.
• Other institutional investors such as American Century Companies Inc. and Causeway Capital Management LLC also significantly boosted their holdings in Alibaba during the same quarter, reflecting strong interest from large investors.
• Wall Street analysts have a generally positive outlook on Alibaba, with a current average rating of "Buy" and a price target averaging $163.53, although some firms have adjusted targets downward.

Everstar Asset Management LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 42.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,920 shares of the specialty retailer's stock after acquiring an additional 2,672 shares during the period. Everstar Asset Management LLC's holdings in Alibaba Group were worth $1,238,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its stake in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Alibaba Group by 13.0% in the 4th quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock valued at $39,992,000 after purchasing an additional 54,342 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Alibaba Group by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after buying an additional 536 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Alibaba Group by 87.1% during the fourth quarter. CoreCap Advisors LLC now owns 2,530 shares of the specialty retailer's stock worth $215,000 after buying an additional 1,178 shares in the last quarter. Finally, Deutsche Bank AG grew its position in shares of Alibaba Group by 20.2% during the fourth quarter. Deutsche Bank AG now owns 417,289 shares of the specialty retailer's stock worth $35,382,000 after buying an additional 70,221 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Up 4.2%

Shares of NYSE BABA traded up $5.95 during midday trading on Tuesday, hitting $147.15. The stock had a trading volume of 32,714,791 shares, compared to its average volume of 17,880,110. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43. The company has a market capitalization of $350.84 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 1.97 and a beta of 0.11. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $120.14 and a 200 day moving average price of $121.97.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Sanford C. Bernstein restated an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Mizuho raised their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Citigroup upped their target price on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Finally, Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price on the stock in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat.com, Alibaba Group currently has a consensus rating of "Buy" and a consensus target price of $166.53.

Alibaba Group Company 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.