Price T Rowe Associates Inc. MD Buys 2,584,480 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Price T Rowe Associates Inc. boosted its stake in Alibaba by 43.0% in Q1, acquiring an additional 2,584,480 shares, bringing its total holdings to 8,595,269 shares valued at approximately $1.14 billion.
• Several other institutional investors also increased their positions in Alibaba, with 13.47% of the stock now owned by institutional investors.
• Alibaba's shares recently opened at $118.1350 and have experienced a 1.1% decline, with notable target prices from analysts ranging up to $180.00.

Price T Rowe Associates Inc. MD lifted its stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 43.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,595,269 shares of the specialty retailer's stock after acquiring an additional 2,584,480 shares during the period. Price T Rowe Associates Inc. MD owned 0.36% of Alibaba Group worth $1,136,554,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BABA. Brighton Jones LLC raised its position in shares of Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after acquiring an additional 981 shares in the last quarter. Guggenheim Capital LLC increased its position in Alibaba Group by 11.0% during the 4th quarter. Guggenheim Capital LLC now owns 7,794 shares of the specialty retailer's stock valued at $661,000 after buying an additional 770 shares in the last quarter. GeoWealth Management LLC increased its position in Alibaba Group by 119.1% during the 4th quarter. GeoWealth Management LLC now owns 1,126 shares of the specialty retailer's stock valued at $95,000 after buying an additional 612 shares in the last quarter. First Trust Advisors LP increased its position in Alibaba Group by 2.2% during the 4th quarter. First Trust Advisors LP now owns 47,897 shares of the specialty retailer's stock valued at $4,061,000 after buying an additional 1,037 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Alibaba Group by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,741,485 shares of the specialty retailer's stock valued at $147,661,000 after buying an additional 103,916 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Down 1.1%

Shares of BABA stock opened at $118.1350 on Friday. The stock's 50-day simple moving average is $116.21 and its 200-day simple moving average is $120.87. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $281.73 billion, a PE ratio of 15.86, a P/E/G ratio of 1.76 and a beta of 0.17. Alibaba Group Holding Limited has a fifty-two week low of $79.21 and a fifty-two week high of $148.43.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BABA. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Arete Research lowered Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Finally, Barclays reduced their target price on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Alibaba Group presently has an average rating of "Moderate Buy" and an average target price of $159.67.

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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