Main Street Research LLC Acquires Shares of 226,019 Alibaba Group Holding Limited $BABA

Key Points

• Main Street Research LLC acquired 226,019 shares of Alibaba Group Holding Limited (NYSE:BABA), valued at approximately $26 million, in its recent 13F filing.
• Several hedge funds, including Kingstone Capital Partners and UBS AM, significantly increased their stakes in Alibaba during the second and first quarters.
• Analysts have set new price targets for Alibaba, with a consensus target of $190.18 and a strong majority rating the stock as a "Moderate Buy."

Main Street Research LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 226,019 shares of the specialty retailer's stock, valued at approximately $26,078,000.

A number of other hedge funds have also recently added to or reduced their stakes in BABA. Kingstone Capital Partners Texas LLC grew its stake in Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after buying an additional 49,010,087 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Alibaba Group by 85.6% during the 1st 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 worth $1,131,558,000 after buying an additional 3,947,460 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Finally, Trivest Advisors Ltd purchased a new position in Alibaba Group during the 1st quarter worth approximately $295,270,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

Shares of NYSE:BABA opened at $164.26 on Wednesday. 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 cap of $391.93 billion, a P/E ratio of 19.10, a PEG ratio of 2.40 and a beta of 0.18. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The company has a 50-day moving average price of $163.03 and a 200 day moving average price of $134.26.

Analysts Set New Price Targets

A number of research firms recently issued reports on BABA. UBS Group restated a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Citigroup restated a "buy" rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Robert W. Baird raised their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Barclays increased their price objective on Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Finally, Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective for the company in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Alibaba Group has an average rating of "Moderate Buy" and a consensus price target of $190.18.

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.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.