First Manhattan CO. LLC. Acquires New Holdings in Alibaba Group Holding Limited $BABA

Key Points

• First Manhattan CO. LLC has acquired 20,528 shares of Alibaba Group, valued at approximately $2.7 million, marking a new investment in the company.
• Recent analyst reports show a range of target price adjustments for Alibaba Group, with Mizuho raising it to $159 and Citigroup to $187, indicating ongoing interest and support from the investment community.
• About 13.47% of Alibaba's stock is owned by institutional investors, highlighting significant interest from larger financial entities.

First Manhattan CO. LLC. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,528 shares of the specialty retailer's stock, valued at approximately $2,714,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC raised its holdings in Alibaba Group by 100.3% during the 1st 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 period. Hazlett Burt & Watson Inc. raised its holdings in Alibaba Group by 1,960.0% during 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. Bruce G. Allen Investments LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $31,000. Finally, Inlight Wealth Management LLC purchased a new stake in Alibaba Group in the first quarter worth $31,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on BABA shares. Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Mizuho increased their target price on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research note on Tuesday. 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 research note on Tuesday. Benchmark increased their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley set a $180.00 price target on Alibaba Group in a report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $163.53.

Alibaba Group Stock Down 4.0%

Shares of Alibaba Group stock traded down $5.45 during trading on Thursday, hitting $131.00. 24,594,736 shares of the stock traded hands, compared to its average volume of 21,282,084. The firm has a market cap of $312.34 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. 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 52-week low of $80.06 and a 52-week high of $148.43. The stock's fifty day simple moving average is $118.82 and its 200 day simple moving average is $122.01.

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.