Oliver Lagore Vanvalin Investment Group Invests $393,000 in Alibaba Group Holding Limited $BABA

Key Points

• Oliver Lagore Vanvalin Investment Group acquired a stake of 3,464 shares in Alibaba Group valued at approximately $393,000 during the second quarter.
• Multiple hedge funds have increased their investments in Alibaba, with Goldman Sachs boosting their stake by 22.6% to over $2 billion, and significant percentage increases from firms like UBS and Mirae Asset.
• Analysts are optimistic about Alibaba's stock, with several upgrades and a consensus rating of “Buy”, setting an average target price of $168.81.

Oliver Lagore Vanvalin Investment Group bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 3,464 shares of the specialty retailer's stock, valued at approximately $393,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Accent Capital Management LLC lifted its holdings in Alibaba Group by 5.5% during the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock worth $209,000 after buying an additional 82 shares during the period. Greenleaf Trust lifted its holdings in Alibaba Group by 1.0% during the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after buying an additional 85 shares during the period. Marcum Wealth LLC lifted its holdings in Alibaba Group by 3.2% during the 1st quarter. Marcum Wealth LLC now owns 2,745 shares of the specialty retailer's stock worth $363,000 after buying an additional 86 shares during the period. Principal Securities Inc. lifted its holdings in Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer's stock worth $2,225,000 after buying an additional 89 shares during the period. Finally, Institute for Wealth Management LLC. lifted its holdings in Alibaba Group by 1.1% during the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer's stock worth $1,134,000 after buying an additional 93 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BABA has been the topic of several research analyst reports. Benchmark upped their target price on Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Bank of America upped their target price on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Zacks Research upgraded Alibaba Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 9th. UBS Group restated a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Finally, Jefferies Financial Group upped their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $168.81.

Alibaba Group Stock Up 0.9%

BABA stock traded up $1.40 during trading on Monday, reaching $164.21. 18,631,078 shares of the stock were exchanged, compared to its average volume of 24,786,252. The firm has a market cap of $391.48 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 2.00 and a beta of 0.11. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $167.44. The firm's 50 day moving average is $130.04 and its 200 day moving average is $123.54. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.