Kingdon Capital Management L.L.C. Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Kingdon Capital Management purchased 62,000 shares of Alibaba Group, valued at about $8.2 million, in the first quarter, marking their entry into this specialty retailer.
• Other investors, including Mirae Asset Global Investments and Goldman Sachs, have significantly increased their stakes in Alibaba Group, demonstrating growing institutional interest.
• Analysts have set an average price target of $159.67 for Alibaba Group, with ten analysts rating the stock as a "Moderate Buy" despite some recent reductions in price targets.

Kingdon Capital Management L.L.C. acquired a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 62,000 shares of the specialty retailer's stock, valued at approximately $8,198,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Panagora Asset Management Inc. increased its position in Alibaba Group by 3.2% during the 1st quarter. Panagora Asset Management Inc. now owns 42,182 shares of the specialty retailer's stock worth $5,578,000 after purchasing an additional 1,304 shares in the last quarter. 7G Capital Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at approximately $9,917,000. Stony Point Capital LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at approximately $4,810,000. Vident Advisory LLC boosted its stake in shares of Alibaba Group by 2.2% during the 1st quarter. Vident Advisory LLC now owns 21,516 shares of the specialty retailer's stock valued at $2,845,000 after buying an additional 458 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Alibaba Group during the first quarter worth $4,800,000. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Up 13.0%

Shares of NYSE:BABA traded up $15.54 during midday trading on Friday, reaching $135.11. The company had a trading volume of 82,003,855 shares, compared to its average volume of 14,601,554. 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 1-year low of $80.06 and a 1-year high of $148.43. The firm has a market cap of $322.14 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11. The company has a fifty day simple moving average of $117.51 and a two-hundred day simple moving average of $121.72.

Analysts Set New Price Targets

Several brokerages recently issued reports on BABA. Barclays reduced their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Bank of America lowered their price target on Alibaba Group from $145.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, July 11th. Loop Capital set a $176.00 target price on Alibaba Group in a report on Friday, May 16th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a report on Monday, July 21st. Finally, Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Company 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.