Norges Bank Takes $527.24 Million Position in Alibaba Group Holding Limited $BABA

Key Points

• Norges Bank bought 4,649,003 new shares of Alibaba in Q2 valued at about $527.24 million, bringing its stake to roughly 0.19% of the company.
• Analysts are broadly positive—Alibaba has a consensus rating of "Moderate Buy" with a consensus price target of $191.89, and several firms have raised targets as high as $225.
• Alibaba shares recently traded around $157.19 with a 52-week range of $80.06–$192.67 and a market capitalization of $375.06 billion.

Norges Bank bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,649,003 shares of the specialty retailer's stock, valued at approximately $527,243,000. Norges Bank owned about 0.19% of Alibaba Group as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC boosted its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in Alibaba Group during the 1st quarter valued at about $26,000. 1248 Management LLC bought a new position in Alibaba Group during the 1st quarter worth approximately $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in Alibaba Group in the 2nd quarter worth approximately $26,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Trading Down 0.3%

Shares of BABA opened at $157.19 on Friday. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $192.67. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm's 50-day moving average price is $168.30 and its 200-day moving average price is $138.85. The firm has a market capitalization of $375.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19.

Analysts Set New Price Targets

BABA has been the subject of a number of analyst reports. Mizuho set a $195.00 price objective on Alibaba Group in a research note on Wednesday, October 22nd. Nomura increased their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, October 9th. Citigroup raised their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday. Bank of America increased their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Finally, Erste Group Bank raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of "Moderate Buy" and a consensus price target of $191.89.

Alibaba Group Company 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.

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