Fortis Capital Advisors LLC Acquires 2,264 Shares of Alibaba Group Holding Limited $BABA

Fortis Capital Advisors LLC raised its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 40.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,879 shares of the specialty retailer’s stock after purchasing an additional 2,264 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Alibaba Group were worth $894,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd raised its position in shares of Alibaba Group by 23.4% during the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock worth $728,633,000 after acquiring an additional 1,045,789 shares during the last quarter. American Century Companies Inc. raised its position in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock worth $303,215,000 after acquiring an additional 785,494 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of Alibaba Group by 42.6% during the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after acquiring an additional 404,842 shares during the last quarter. WCM Investment Management LLC bought a new stake in shares of Alibaba Group during the first quarter worth $4,074,000. Finally, KMG Fiduciary Partners LLC bought a new stake in shares of Alibaba Group during the first quarter worth $1,948,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.7%

NYSE:BABA opened at $187.94 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. 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 stock has a market cap of $448.06 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 2.24 and a beta of 0.18. The stock has a 50-day moving average price of $140.65 and a two-hundred day moving average price of $126.16.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BABA shares. Robert W. Baird boosted their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Erste Group Bank raised Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Benchmark lifted their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Finally, CLSA lifted their price objective on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and a consensus target price of $181.88.

Alibaba Group Company 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.