Mirae Asset Global Investments Co. Ltd. lessened its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 92.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 348,980 shares of the specialty retailer's stock after selling 4,029,691 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Alibaba Group were worth $39,578,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the stock. Kingstone Capital Partners Texas LLC grew its holdings 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 acquiring an additional 49,010,087 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 acquiring an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 2,584,480 shares during the period. Finally, Trivest Advisors Ltd acquired a new stake in Alibaba Group during the 1st quarter worth $295,270,000. Institutional investors own 13.47% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BABA. Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Citigroup reiterated a "buy" rating on shares of Alibaba Group in a report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $170.00 to $245.00 and gave the company an "overweight" rating in a research note on Wednesday. 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. Finally, UBS Group reiterated a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a report on Sunday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group currently has an average rating of "Buy" and an average target price of $181.88.
Check Out Our Latest Stock Analysis on BABA
Alibaba Group Price Performance
Shares of NYSE BABA opened at $187.94 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The business has a 50-day moving average of $140.65 and a 200-day moving average of $126.16. The stock has a market capitalization of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.24 and a beta of 0.18. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67.
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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