Ninety One UK Ltd Purchases Shares of 135,070 Alibaba Group Holding Limited $BABA

Key Points

• Ninety One UK Ltd has purchased 135,070 shares of Alibaba Group, valued at approximately $15.3 million, as disclosed in their recent SEC filing.
• Several analysts have upgraded their ratings and price targets for Alibaba, with JPMorgan increasing its target from $170 to $245.
• Alibaba's stock experienced a 2.2% increase, with its current price at $182.70, reflecting a strong performance compared to its 12-month low of $80.06.

Ninety One UK Ltd acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 135,070 shares of the specialty retailer's stock, valued at approximately $15,318,000.

A number of other large investors have also recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter worth $26,000. Summit Securities Group LLC raised its stake in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the first quarter valued at $26,000. 1248 Management LLC purchased a new stake in Alibaba Group during the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its position in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 2.2%

BABA stock opened at $182.70 on Thursday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $183.08. 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 company has a market cap of $435.57 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 2.06 and a beta of 0.18. The company has a fifty day moving average price of $137.93 and a 200 day moving average price of $125.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup reissued a "buy" rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Barclays boosted their price objective on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. JPMorgan Chase & Co. lifted their price target on shares of Alibaba Group from $170.00 to $245.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Mizuho boosted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $180.75.

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.

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