Nations Financial Group Inc. IA ADV Purchases 22,396 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Nations Financial Group Inc. IA ADV increased its stake in Alibaba Group by 121.9%, acquiring an additional 22,396 shares, bringing their total holdings to 40,774 shares with a value of approximately $5.39 million.
• Institutional investors now own 13.47% of Alibaba's stock, with several hedge funds notably increasing their positions during the last quarter.
• Analysts have mixed ratings on Alibaba, with some firms lowering price targets and others maintaining a "Moderate Buy" consensus with an average target price of $153.29.

Nations Financial Group Inc. IA ADV lifted its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 121.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,774 shares of the specialty retailer's stock after buying an additional 22,396 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Alibaba Group were worth $5,392,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in BABA. Brighton Jones LLC grew its holdings in shares of Alibaba Group by 40.4% during the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after buying an additional 981 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Alibaba Group by 3.9% during the fourth quarter. Synovus Financial Corp now owns 5,747 shares of the specialty retailer's stock worth $487,000 after buying an additional 214 shares in the last quarter. Mariner LLC grew its holdings in shares of Alibaba Group by 9.9% during the fourth quarter. Mariner LLC now owns 77,046 shares of the specialty retailer's stock worth $6,533,000 after buying an additional 6,968 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in shares of Alibaba Group by 19.4% during the fourth quarter. CreativeOne Wealth LLC now owns 5,832 shares of the specialty retailer's stock worth $495,000 after buying an additional 946 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Alibaba Group by 11.0% during the fourth quarter. Guggenheim Capital LLC now owns 7,794 shares of the specialty retailer's stock worth $661,000 after buying an additional 770 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Alibaba Group Trading Down 3.6%

Shares of BABA stock opened at $122.29 on Friday. The company has a 50 day moving average of $116.20 and a 200-day moving average of $120.13. The firm has a market cap of $291.63 billion, a P/E ratio of 16.41, a PEG ratio of 1.87 and a beta of 0.17. Alibaba Group Holding Limited has a 12-month low of $77.74 and a 12-month high of $148.43. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho lowered their price target on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Arete downgraded Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price for the company. in a research report on Tuesday, June 24th. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Morgan Stanley set a $180.00 target price on Alibaba Group in a report on Wednesday, May 14th. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a research note on Friday, May 16th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.29.

Alibaba Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.