Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 67.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,717 shares of the specialty retailer's stock after purchasing an additional 2,312 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Alibaba Group were worth $756,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC raised its holdings in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after purchasing an additional 59,000 shares during the period. Hazlett Burt & Watson Inc. increased its holdings in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Alibaba Group in the 1st quarter worth about $31,000. 13.47% of the stock is owned by institutional investors and hedge funds.
Alibaba Group Price Performance
Shares of NYSE:BABA traded down $4.99 during trading hours on Thursday, hitting $131.46. 14,690,619 shares of the company's stock traded hands, compared to its average volume of 21,217,996. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The company's fifty day simple moving average is $118.82 and its two-hundred day simple moving average is $122.01. The company has a market cap of $313.43 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.99 and a beta of 0.11.
Analysts Set New Price Targets
A number of research firms recently weighed in on BABA. Citigroup increased their price objective on shares of Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a report on Tuesday. Arete raised shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective on the stock in a report on Wednesday. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Robert W. Baird increased their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $163.53.
Check Out Our Latest Analysis on BABA
About Alibaba Group
(
Free Report)
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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