Oak Grove Capital LLC Buys New Position in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Oak Grove Capital LLC acquired a new stake in Alibaba Group Holding Limited, purchasing 13,600 shares valued at approximately $1.8 million during the first quarter.
• Alibaba's stock experienced a decline of 3.6%, with trading at $122.29, while analysts have adjusted their price targets to an average of $153.29.
• Institutional investors currently hold 13.47% of Alibaba's stock, reflecting a shift in investment interest among large financial entities.

Oak Grove Capital LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 13,600 shares of the specialty retailer's stock, valued at approximately $1,798,000.

Other large investors have also bought and sold shares of the company. WCM Investment Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at $4,074,000. KMG Fiduciary Partners LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at $1,948,000. Avaii Wealth Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at $563,000. Fiduciary Alliance LLC lifted its holdings in shares of Alibaba Group by 18.3% during the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after purchasing an additional 18,230 shares during the last quarter. Finally, Independent Advisor Alliance lifted its holdings in shares of Alibaba Group by 53.1% during the first quarter. Independent Advisor Alliance now owns 13,043 shares of the specialty retailer's stock valued at $1,725,000 after purchasing an additional 4,521 shares during the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Stock Down 3.6%

BABA opened at $122.29 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $77.74 and a fifty-two week high of $148.43. The business has a 50-day moving average of $116.20 and a 200-day moving average of $120.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $291.63 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.87 and a beta of 0.17.

Analyst Ratings Changes

Several equities research analysts have recently commented on BABA shares. Mizuho reduced their target price on Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, May 16th. Barclays reduced their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Robert W. Baird reduced their price objective on Alibaba Group from $147.00 to $142.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Morgan Stanley set a $180.00 price objective on Alibaba Group in a research note on Wednesday, May 14th. Finally, Bank of America reduced their price objective on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, July 11th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Alibaba Group currently has an average rating of "Moderate Buy" and an average price target 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.

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