Harrell Investment Partners LLC Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Harrell Investment Partners LLC has made a new investment in Alibaba Group, acquiring 3,239 shares valued at approximately $367,000 during the second quarter.
• Other hedge funds have significantly increased their positions in Alibaba, including Kingstone Capital Partners, which raised its holdings by over 1.3 million percent, acquiring nearly 49 million shares worth over $5.5 billion.
• Analysts are optimistic about Alibaba's future, with Arete Research upgrading the stock to a "strong-buy" rating and several firms raising their price targets, pushing the consensus target price to $172.81.

Harrell Investment Partners LLC purchased a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,239 shares of the specialty retailer's stock, valued at approximately $367,000.

Other hedge funds also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its position in shares of Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock valued at $5,558,646,000 after acquiring an additional 49,010,087 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock valued at $1,131,558,000 after acquiring an additional 3,947,460 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after acquiring an additional 2,885,154 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after acquiring an additional 2,584,480 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE:BABA opened at $176.66 on Thursday. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $180.16. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $421.16 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.00 and a beta of 0.11. The stock's fifty day moving average is $132.17 and its two-hundred day moving average is $124.18.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BABA shares. Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Susquehanna lifted their price objective on Alibaba Group from $175.00 to $190.00 and gave the stock a "positive" rating in a research report on Thursday, September 18th. Citigroup lifted their price objective on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Mizuho lifted their price objective on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Robert W. Baird lifted their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $172.81.

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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