MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,006,282 shares of the specialty retailer's stock after selling 6,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Alibaba Group were worth $133,064,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Accent Capital Management LLC grew its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after purchasing an additional 82 shares during the period. Greenleaf Trust grew its stake in shares of Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock valued at $1,102,000 after purchasing an additional 85 shares during the period. Marcum Wealth LLC grew its stake in shares of Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock valued at $363,000 after purchasing an additional 86 shares during the period. Principal Securities Inc. grew its stake in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock valued at $2,225,000 after purchasing an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. grew its stake in shares of Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock valued at $1,134,000 after purchasing an additional 93 shares during the period. Institutional investors own 13.47% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on BABA shares. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Jefferies Financial Group set a $165.00 price objective on Alibaba Group and gave the company a "buy" rating in a research note on Friday, August 29th. Bank of America boosted their price objective on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Benchmark boosted their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. Based on data from MarketBeat, Alibaba Group has a consensus rating of "Buy" and a consensus price target of $163.53.
Read Our Latest Stock Analysis on BABA
Alibaba Group Price Performance
Shares of BABA traded up $5.53 during mid-day trading on Monday, hitting $141.11. 19,938,945 shares of the stock were exchanged, compared to its average volume of 21,262,096. The company has a market cap of $336.43 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $148.43. The firm has a 50-day moving average of $119.59 and a two-hundred day moving average of $121.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.
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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