Sanders Morris Harris LLC Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• Sanders Morris Harris LLC made a new investment in Alibaba Group by purchasing 13,000 shares valued at approximately $1.47 million, representing 0.4% of its total holdings.
• Analysts have varying opinions on Alibaba, with recent reports showing a mix of ratings, including upgrades to a strong-buy and buy statuses, while others have downgraded the stock to a hold.
• Alibaba's current stock price is around $173.61, with a market capitalization of $413.9 billion and a 12-month price range between $80.06 and $192.67.

Sanders Morris Harris LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,000 shares of the specialty retailer's stock, valued at approximately $1,474,000. Alibaba Group accounts for 0.4% of Sanders Morris Harris LLC's holdings, making the stock its 28th largest position.

Several other large investors have also recently modified their holdings of the stock. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the 1st quarter valued at about $26,000. Summit Securities Group LLC lifted its position in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after purchasing an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. 1248 Management LLC bought a new position in shares of Alibaba Group in the first quarter worth approximately $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Alibaba Group in the second quarter worth $26,000. Hedge funds and other institutional investors own 13.47% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BABA. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 target price on the stock in a research note on Wednesday, September 3rd. Benchmark raised their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Finally, Nomura lifted their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.06.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $173.61 on Tuesday. The business has a fifty day simple moving average of $152.08 and a two-hundred day simple moving average of $129.04. The firm has a market capitalization of $413.90 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.23 and a beta of 0.18. 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 Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Alibaba Group 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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