Exchange Traded Concepts LLC Purchases 12,833 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Exchange Traded Concepts LLC has increased its position in Alibaba Group Holding Limited by 21.5%, owning 72,451 shares worth approximately $8.22 million as of the latest SEC filing.
• Other institutional investors have also significantly increased their holdings in Alibaba, including Goldman Sachs with a 22.6% rise and UBS with an 85.6% increase in the first quarter.
• Analyst ratings for Alibaba have improved, with several brokerages raising their target prices to between $152.00 and $195.00 and an average consensus rating of "Buy" for the stock.

Exchange Traded Concepts LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 21.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,451 shares of the specialty retailer's stock after buying an additional 12,833 shares during the quarter. Exchange Traded Concepts LLC's holdings in Alibaba Group were worth $8,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter worth $26,000. Summit Securities Group LLC raised its position in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. 1248 Management LLC purchased a new position in Alibaba Group in the first quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. increased 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 valued at $27,000 after buying an additional 196 shares during the period. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BABA. Robert W. Baird raised their price target on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price for the company in a report on Wednesday, September 3rd. Bank of America increased their target price on Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a report on Tuesday, September 2nd. Sanford C. Bernstein reiterated an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a report on Saturday, August 30th. Finally, UBS Group reiterated a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $168.81.

Alibaba Group Stock Up 0.2%

Shares of BABA stock traded up $0.30 during trading on Friday, hitting $162.78. 18,148,834 shares of the company were exchanged, compared to its average volume of 24,569,858. The business's 50-day simple moving average is $128.92 and its 200 day simple moving average is $123.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $167.32. The firm has a market capitalization of $388.08 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.00 and a beta of 0.11.

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.