Stony Point Capital LLC Invests $4.81 Million in Alibaba Group Holding Limited $BABA

Key Points

• Stony Point Capital LLC invested approximately $4.81 million in Alibaba Group, acquiring 36,375 shares during the 1st quarter.
• Several institutional investors adjusted their positions in Alibaba, with notable increases from Summit Securities Group and Hazlett Burt & Watson, reflecting a growing interest in the company.
• Wall Street analysts have mixed views about Alibaba's stock, with target price adjustments resulting in a consensus rating of "Moderate Buy" and an average price target of $159.67.

Stony Point Capital LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,375 shares of the specialty retailer's stock, valued at approximately $4,810,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. bought a new stake in shares of Alibaba Group during the first quarter worth about $26,000. Summit Securities Group LLC increased its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Alibaba Group by 1,960.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after acquiring an additional 196 shares in the last quarter. Inlight Wealth Management LLC bought a new stake in shares of Alibaba Group during the first quarter worth about $31,000. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group during the first quarter worth about $31,000. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BABA shares. Mizuho decreased their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Barclays reduced their price objective on shares of 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 report on Friday, June 27th. Morgan Stanley set a $180.00 price objective on shares of Alibaba Group in a research report on Wednesday, May 14th. Finally, Bank of America reduced their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of "Moderate Buy" and an average price target of $159.67.

Alibaba Group Stock Down 2.1%

Alibaba Group stock opened at $119.66 on Friday. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $148.43. The firm has a 50 day moving average price of $117.06 and a 200-day moving average price of $121.53. The company has a market capitalization of $285.36 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.80 and a beta of 0.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

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.

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