Sandler Capital Management Makes New $1.18 Million Investment in Alibaba Group Holding Limited $BABA

Key Points

• Sandler Capital Management has made a new investment of approximately $1.18 million in Alibaba Group, purchasing 8,894 shares of the company during the first quarter.
• Institutional investors now own 13.47% of Alibaba Group's stock, with several hedge funds significantly increasing their stakes in the company throughout the same period.
• Analysts have a consensus rating of "Buy" on Alibaba shares, with a price target average of $163.53, indicating confidence in the company's growth potential.

Sandler Capital Management bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 8,894 shares of the specialty retailer's stock, valued at approximately $1,176,000.

Other hedge funds have also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. acquired a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. Summit Securities Group LLC raised its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after buying an additional 196 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. Finally, Inlight Wealth Management LLC acquired a new stake in Alibaba Group during the 1st quarter worth approximately $31,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

NYSE:BABA opened at $135.49 on Friday. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $148.43. The company has a current ratio of 1.45, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $119.59 and a 200 day simple moving average of $122.11. The stock has a market capitalization of $323.03 billion, a PE ratio of 15.75, a P/E/G ratio of 1.83 and a beta of 0.11.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BABA shares. UBS Group reaffirmed a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Robert W. Baird lifted their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a report on Friday, May 16th. Mizuho lifted their price objective on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Bank of America lifted their price objective on shares of Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat, Alibaba Group currently has an average rating of "Buy" and a consensus price target of $163.53.

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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