Ieq Capital LLC Grows Stock Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Ieq Capital LLC significantly increased its ownership in Alibaba Group by 615.2% during the first quarter, now holding 46,135 shares worth $6.1 million.
• Several hedge funds, including Goldman Sachs and Mirae Asset Global Investments, also boosted their stakes in Alibaba, indicating strong institutional interest.
• Analysts have mixed sentiments on Alibaba's stock, with reports showing a range of price target adjustments and ratings changes, reflecting a consensus rating of "Moderate Buy."

Ieq Capital LLC raised its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 615.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,135 shares of the specialty retailer's stock after acquiring an additional 39,684 shares during the quarter. Ieq Capital LLC's holdings in Alibaba Group were worth $6,100,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased 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 during the period. Price T Rowe Associates Inc. MD increased 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 during the period. Bank of America Corp DE increased its position in shares of Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after acquiring an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alibaba Group by 19.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after acquiring an additional 752,275 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased 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 during the period. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on BABA shares. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Robert W. Baird reduced their price target on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Loop Capital set a $176.00 price target on shares of Alibaba Group in a research report on Friday, May 16th. Barclays reduced their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Finally, Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Price Performance

Shares of BABA opened at $119.66 on Friday. The stock has a market cap of $285.36 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 1.80 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $148.43. The firm's 50-day simple moving average is $117.06 and its two-hundred day simple moving average is $121.53.

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.

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