Prudential PLC Increases Stock Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Key Points

• Prudential PLC increased its stake in Alibaba Group Holding Limited by 118.5% in the first quarter, now owning 18,228 shares valued at $2.41 million.
• Mirae Asset Global Investments Co. Ltd. significantly boosted its holdings in Alibaba Group by 3,214.5%, now owning approximately 4.38 million shares worth $578.99 million.
• Wall Street analysts have largely rated Alibaba as a "Moderate Buy," with a consensus target price of $153.29, although several firms have adjusted their target prices downward recently.

Prudential PLC raised its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 118.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 18,228 shares of the specialty retailer's stock after purchasing an additional 9,885 shares during the period. Prudential PLC's holdings in Alibaba Group were worth $2,410,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Alibaba Group during the 1st quarter valued at $39,669,000. Rathbones Group PLC lifted its position in shares of Alibaba Group by 0.5% during the 1st quarter. Rathbones Group PLC now owns 53,735 shares of the specialty retailer's stock valued at $7,105,000 after acquiring an additional 289 shares during the period. Callan Family Office LLC acquired a new position in Alibaba Group during the first quarter worth $304,000. Stone House Investment Management LLC acquired a new position in Alibaba Group during the first quarter worth $34,000. Finally, Todd Asset Management LLC raised its holdings in Alibaba Group by 2.0% during the first quarter. Todd Asset Management LLC now owns 315,315 shares of the specialty retailer's stock worth $41,694,000 after buying an additional 6,080 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a report on Wednesday, May 14th. Robert W. Baird lowered their price objective on shares of Alibaba Group from $147.00 to $142.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Arete downgraded shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 price objective on the stock. in a report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.38.

Alibaba Group Stock Performance

BABA traded down $1.16 during trading on Friday, hitting $121.12. 11,116,699 shares of the company traded hands, compared to its average volume of 12,711,124. The firm has a market cap of $288.85 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.78 and a beta of 0.17. The stock's fifty day moving average is $116.23 and its 200 day moving average is $120.46. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a one year low of $79.21 and a one year high of $148.43.

About Alibaba Group

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.