Fluent Financial LLC Purchases 9,122 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Fluent Financial LLC increased its stake in Alibaba Group by 99.2% in the second quarter, acquiring an additional 9,122 shares and bringing its total holdings to 18,315 shares worth roughly $2.08 million.
• Institutional investors and hedge funds collectively own approximately 13.47% of Alibaba Group's stock, with several firms making substantial new investments earlier this year.
• Analysts maintain a generally positive outlook on Alibaba, with a consensus rating of "Buy" and a price target averaging around $184.19.

Fluent Financial LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 99.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,315 shares of the specialty retailer's stock after purchasing an additional 9,122 shares during the quarter. Fluent Financial LLC's holdings in Alibaba Group were worth $2,077,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC raised its position in shares of 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 acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC bought a new position in shares of Alibaba Group in the 1st quarter worth $26,000. Finally, Hazlett Burt & Watson Inc. grew its stake in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BABA shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Alibaba Group in a research note on Wednesday. Arete upgraded shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. Robert W. Baird boosted their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Bank of America upped their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $184.19.

Alibaba Group Stock Performance

Shares of BABA opened at $181.15 on Thursday. The firm has a market cap of $431.88 billion, a P/E ratio of 21.06, a PEG ratio of 2.14 and a beta of 0.18. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The firm's 50 day moving average price is $144.47 and its two-hundred day moving average price is $127.08.

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.

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