UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 3,947,460 Shares of Alibaba Group Holding Limited $BABA

Key Points

• UBS Asset Management significantly increased its holdings in Alibaba Group by 85.6%, acquiring an additional 3,947,460 shares, bringing their total to 8,557,495 shares valued at approximately $1.13 billion.
• Other institutional investors, including Goldman Sachs and Price T Rowe Associates, also raised their stakes in Alibaba by notable percentages during the first quarter of the year.
• Analysts have revised their price targets for Alibaba, with Bank of America and Jefferies setting targets as high as $165 to $195, while maintaining a consensus rating of "Buy" for the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 85.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,557,495 shares of the specialty retailer's stock after purchasing an additional 3,947,460 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.36% of Alibaba Group worth $1,131,558,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its stake in shares of Alibaba Group by 22.6% in the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after acquiring an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Alibaba Group by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares during the period. Temasek Holdings Private Ltd increased its position in Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock valued at $728,633,000 after purchasing an additional 1,045,789 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in 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 valued at $578,992,000 after purchasing an additional 4,246,564 shares during the period. Finally, Invesco Ltd. grew its position in shares of Alibaba Group by 55.9% during the 1st quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer's stock worth $464,526,000 after buying an additional 1,259,718 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 4.1%

Shares of NYSE BABA opened at $141.11 on Tuesday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $148.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $336.43 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.89 and a beta of 0.11. The business has a 50-day moving average of $120.14 and a 200-day moving average of $121.97.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Alibaba Group from $135.00 to $152.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Jefferies Financial Group set a $165.00 price objective on shares of Alibaba Group and gave the stock a "buy" rating in a report on Friday, August 29th. Benchmark lifted their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, September 2nd. Wall Street Zen cut Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective on the stock in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price 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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