SCS Capital Management LLC Makes New Investment in Alibaba Group Holding Limited $BABA

Key Points

• SCS Capital Management LLC acquired a new position in Alibaba Group, purchasing 1,689 shares valued at approximately $223,000 in the first quarter.
• Several hedge funds significantly increased their stakes in Alibaba, with Mirae Asset Global Investments raising its holdings by 3,214.5% during the same period.
• Analysts have raised their price targets for Alibaba Group, with Jefferies Financial Group increasing theirs from $165.00 to $178.00, reflecting growing confidence in the stock.

SCS Capital Management LLC bought a new position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 1,689 shares of the specialty retailer's stock, valued at approximately $223,000.

Several other hedge funds have also made changes to their positions in BABA. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alibaba Group by 3,214.5% in 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 buying an additional 4,246,564 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alibaba Group by 85.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after buying an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Alibaba Group by 43.0% in the 1st 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 in the last quarter. Finally, Trivest Advisors Ltd bought a new position in shares of Alibaba Group in the 1st quarter worth $295,270,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 0.3%

Shares of NYSE:BABA opened at $155.02 on Friday. The business's 50-day moving average is $123.33 and its 200 day moving average is $122.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $369.60 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.17 and a beta of 0.11. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $156.85.

Analysts Set New Price Targets

Several research firms have recently commented on BABA. Jefferies Financial Group boosted their price target on Alibaba Group from $165.00 to $178.00 and gave the stock a "buy" rating in a research report on Wednesday. Mizuho boosted their price target on Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Bank of America upped their target price on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and set a $160.00 target price on shares of Alibaba Group in a research report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of "Buy" and a consensus price target of $167.40.

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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