Fox Run Management L.L.C. Purchases New Position in Alibaba Group Holding Limited $BABA

Key Points

• Fox Run Management L.L.C. acquired a new stake of 3,358 shares in Alibaba Group, valued at approximately $444,000, as part of several institutional investments made in the first quarter.
• Alibaba's stock saw a decline of 1.1%, trading at $120.06, with institutional investors and hedge funds currently owning 13.47% of the company's stock.
• Analysts have mixed opinions, with eleven giving it a Buy rating and a consensus price target of $159.67, despite some recent downgrades in price objectives.

Fox Run Management L.L.C. acquired a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,358 shares of the specialty retailer's stock, valued at approximately $444,000.

A number of other hedge funds have also made changes to their positions in BABA. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after buying an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. Trivest Advisors Ltd acquired a new position in Alibaba Group during the 1st quarter worth $295,270,000. Invesco Ltd. boosted its position in Alibaba Group by 55.9% during the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after acquiring an additional 1,259,718 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Alibaba Group by 95.4% during the 4th quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock worth $179,087,000 after acquiring an additional 1,030,999 shares during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on BABA shares. Robert W. Baird dropped their price target on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Barclays cut their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Morgan Stanley set a $180.00 target price on Alibaba Group in a report on Wednesday, May 14th. Finally, Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $159.67.

Alibaba Group Price Performance

NYSE:BABA traded down $1.0220 during trading hours on Thursday, reaching $118.4680. 5,098,970 shares of the company were exchanged, compared to its average volume of 21,028,555. The business has a 50 day moving average of $116.18 and a 200 day moving average of $120.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. Alibaba Group Holding Limited has a 1-year low of $79.21 and a 1-year high of $148.43. The company has a market capitalization of $282.53 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.76 and a beta of 0.17.

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.