Alibaba Group Holding Limited $BABA Shares Bought by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly increased its stake in Alibaba Group, raising it by 1,048.9% to $60.16 million in the first quarter.
• Analysts have a positive outlook on Alibaba, with multiple firms raising price targets, including Bank of America from $135.00 to $152.00 and Citigroup from $148.00 to $187.00, all maintaining "buy" ratings.
• Alibaba's shares opened at $155.02 and the company has a market capitalization of $369.60 billion, with a 12-month high of $156.85.

Voya Investment Management LLC raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 1,048.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 454,980 shares of the specialty retailer's stock after acquiring an additional 415,380 shares during the period. Voya Investment Management LLC's holdings in Alibaba Group were worth $60,162,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group during the first quarter valued at about $26,000. Summit Securities Group LLC grew its holdings in shares of 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 in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the first quarter valued at approximately $26,000. Finally, Hazlett Burt & Watson Inc. grew its holdings in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

BABA stock traded down $0.42 on Friday, hitting $155.02. The company's stock had a trading volume of 20,865,680 shares, compared to its average volume of 21,246,096. The firm has a 50 day moving average of $123.33 and a two-hundred day moving average of $122.41. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $156.85. The stock has a market cap of $369.57 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.11. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BABA. Sanford C. Bernstein restated an "outperform" rating and issued a $160.00 price objective on shares of Alibaba Group in a report on Saturday, August 30th. UBS Group reiterated a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a report on Sunday, August 31st. Barclays boosted their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Robert W. Baird boosted their price target on shares of Alibaba Group from $142.00 to $153.00 and gave the stock an "outperform" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Alibaba Group currently has an average rating of "Buy" and a consensus target price of $167.40.

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.