Freedom Investment Management Inc. Acquires Shares of 4,867 Alibaba Group Holding Limited $BABA

Key Points

• Freedom Investment Management Inc. has acquired 4,867 shares of Alibaba Group, valued at approximately $644,000, indicating increased institutional interest in the company.
• Alibaba's stock has experienced a trading increase of 1.1% and has a market capitalization of $296.55 billion, with recent analyst ratings showing a consensus of "Moderate Buy."
• Several institutional investors, including North Ridge Wealth Advisors and Hazlett Burt & Watson Inc., have modified their stakes in Alibaba during the first quarter, reflecting a trend of growing investment in the company.

Freedom Investment Management Inc. purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,867 shares of the specialty retailer's stock, valued at approximately $644,000.

Several other large investors have also made changes to their positions in BABA. Oak Harvest Investment Services increased its stake in shares of Alibaba Group by 2.1% during the 1st quarter. Oak Harvest Investment Services now owns 37,027 shares of the specialty retailer's stock worth $4,896,000 after purchasing an additional 779 shares during the last quarter. Axiom Investors LLC DE acquired a new position in shares of Alibaba Group during the 1st quarter valued at about $276,909,000. Jump Financial LLC acquired a new position in shares of Alibaba Group during the 1st quarter valued at about $15,547,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Alibaba Group by 4.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 69,922 shares of the specialty retailer's stock valued at $9,246,000 after acquiring an additional 3,224 shares in the last quarter. Finally, Resolute Capital Asset Partners LLC acquired a new stake in Alibaba Group in the 1st quarter worth approximately $6,612,000. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Performance

BABA stock traded down $2.57 during midday trading on Thursday, hitting $119.66. The stock had a trading volume of 14,290,668 shares, compared to its average volume of 20,794,713. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a 50-day simple moving average of $116.94 and a 200 day simple moving average of $121.48. The firm has a market capitalization of $285.36 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.83 and a beta of 0.17.

Analysts Set New Price Targets

Several brokerages have commented on BABA. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a research report on Wednesday, May 14th. Bank of America decreased their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, Mizuho dropped their price objective on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Moderate Buy" and an average target price of $159.67.

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.