NewEdge Advisors LLC Has $11.09 Million Stock Holdings in Alibaba Group Holding Limited $BABA

Key Points

• NewEdge Advisors LLC increased its stake in Alibaba Group by 10.5%, acquiring an additional 7,939 shares during the 1st quarter, the total value of its holdings reaching $11.1 million.
• Several hedge funds, including Brighton Jones LLC and Ameriprise Financial Inc., made notable adjustments to their stakes in Alibaba, reflecting growing institutional interest in the company.
• Alibaba's stock price rose by 3.5%, opening at $135.49, with analysts providing varying projections that place its target price between $149 and $195.

NewEdge Advisors LLC boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 10.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,874 shares of the specialty retailer's stock after purchasing an additional 7,939 shares during the quarter. NewEdge Advisors LLC's holdings in Alibaba Group were worth $11,091,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Alibaba Group by 40.4% during the 4th 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. Ameriprise Financial Inc. lifted its holdings in shares of Alibaba Group by 13.0% during the fourth quarter. Ameriprise Financial Inc. now owns 471,652 shares of the specialty retailer's stock worth $39,992,000 after purchasing an additional 54,342 shares during the period. Cary Street Partners Financial LLC acquired a new position in Alibaba Group in the fourth quarter valued at approximately $439,000. Captrust Financial Advisors increased its position in shares of Alibaba Group by 5.0% in the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after buying an additional 536 shares in the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Alibaba Group by 87.1% in the fourth quarter. CoreCap Advisors LLC now owns 2,530 shares of the specialty retailer's stock valued at $215,000 after buying an additional 1,178 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company's stock.

Alibaba Group Price Performance

BABA traded up $4.57 during trading on Friday, reaching $135.49. The stock had a trading volume of 19,166,179 shares, compared to its average volume of 17,478,944. The firm has a market capitalization of $323.03 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11. 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 stock has a 50 day moving average of $119.59 and a two-hundred day moving average of $122.09. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43.

Analyst Ratings Changes

Several brokerages have recently commented on BABA. Wall Street Zen lowered Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Sanford C. Bernstein restated an "outperform" rating and set a $160.00 price target on shares of Alibaba Group in a research note on Saturday, August 30th. Arete Research raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Finally, Citigroup raised their price target on Alibaba Group from $148.00 to $187.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $163.53.

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.