Pinnacle Family Advisors LLC purchased a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,687 shares of the specialty retailer's stock, valued at approximately $620,000.
A number of other large investors also recently modified their holdings of BABA. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock worth $1,136,554,000 after purchasing an additional 2,584,480 shares during the last quarter. Trivest Advisors Ltd bought a new position in shares of Alibaba Group in the 1st quarter worth about $295,270,000. Finally, Axiom Investors LLC DE bought a new position in shares of Alibaba Group in the 1st quarter worth about $276,909,000. 13.47% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on BABA. Sanford C. Bernstein reissued an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. Loop Capital set a $176.00 target price on Alibaba Group in a research note on Friday, May 16th. Jefferies Financial Group set a $165.00 target price on Alibaba Group and gave the company a "buy" rating in a research note on Friday, August 29th. Wall Street Zen downgraded Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $163.53.
View Our Latest Research Report on Alibaba Group
Alibaba Group Stock Performance
BABA stock traded up $4.57 during midday trading on Friday, reaching $135.49. 19,166,179 shares of the company's stock traded hands, compared to its average volume of 17,478,944. The company has a 50-day moving average price of $119.59 and a two-hundred day moving average price of $121.99. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $148.43. The firm has a market capitalization of $323.03 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11.
Alibaba Group Profile
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Free Report)
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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