Legacy Financial Advisors Inc. Has $871,000 Position in Alibaba Group Holding Limited $BABA

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Legacy Financial Advisors Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 97.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,589 shares of the specialty retailer's stock after acquiring an additional 3,251 shares during the quarter. Legacy Financial Advisors Inc.'s holdings in Alibaba Group were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of BABA. Mirae Asset Global Investments Co. Ltd. boosted 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. Goldman Sachs Group Inc. boosted 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. Trivest Advisors Ltd bought a new stake in shares of Alibaba Group in the first quarter valued at about $295,270,000. Invesco Ltd. boosted its position in shares of Alibaba Group by 55.9% in the first quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock valued at $464,526,000 after acquiring an additional 1,259,718 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after acquiring an additional 1,030,999 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

NYSE BABA traded up $4.7630 during trading on Friday, hitting $122.8530. 11,840,471 shares of the company's stock were exchanged, compared to its average volume of 20,988,297. 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 company has a market cap of $292.98 billion, a PE ratio of 16.49, a P/E/G ratio of 1.76 and a beta of 0.17. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43. The stock's 50 day moving average price is $116.21 and its two-hundred day moving average price is $120.87.

Wall Street Analyst Weigh In

BABA has been the subject of a number of recent research reports. Benchmark reissued a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Mizuho cut their price objective on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Bank of America cut their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Robert W. Baird cut their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. 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. Eleven equities 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, the company presently has an average 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.