Resolute Advisors LLC Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Resolute Advisors LLC acquired a new stake in Alibaba Group, purchasing 3,001 shares valued at approximately $397,000.
• Several institutional investors increased their positions significantly in Alibaba, with Goldman Sachs raising its stake by 22.6% and Mirae Asset Global Investments growing its holdings by 3,214.5%.
• Analysts have mixed views on Alibaba's stock, with ratings ranging from "buy" to "hold" and recent price target adjustments indicating a consensus average target price of $159.67.

Resolute Advisors LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,001 shares of the specialty retailer's stock, valued at approximately $397,000.

A number of other institutional investors also recently bought and sold shares of BABA. Goldman Sachs Group Inc. raised its position in shares of 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 valued at $2,069,144,000 after buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Alibaba Group by 43.0% during the first 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 acquiring an additional 2,584,480 shares during the last quarter. Bank of America Corp DE raised its position in Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alibaba Group by 19.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after purchasing an additional 752,275 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the period. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Arete Research cut shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 24th. Benchmark reaffirmed a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays lowered their price objective on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Wall Street Zen downgraded shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Bank of America lowered their price target on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Alibaba Group has a consensus rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Stock Performance

Shares of BABA stock opened at $119.5190 on Thursday. The stock's 50-day moving average is $116.18 and its two-hundred day moving average is $120.73. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.55 and a current ratio of 1.55. Alibaba Group Holding Limited has a 1 year low of $79.21 and a 1 year high of $148.43. The firm has a market cap of $285.03 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.76 and a beta of 0.17.

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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