Assetmark Inc. Boosts Stock Position in Alibaba Group Holding Limited $BABA

Assetmark Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 157.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,478 shares of the specialty retailer’s stock after buying an additional 25,380 shares during the quarter. Assetmark Inc.’s holdings in Alibaba Group were worth $4,704,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Accent Capital Management LLC increased its position in shares of Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock valued at $209,000 after buying an additional 82 shares in the last quarter. Greenleaf Trust increased its position in shares of Alibaba Group by 1.0% in the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock valued at $1,102,000 after buying an additional 85 shares in the last quarter. Principal Securities Inc. boosted its stake in shares of Alibaba Group by 0.5% in the first quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock worth $2,225,000 after acquiring an additional 89 shares during the last quarter. CWM LLC boosted its stake in shares of Alibaba Group by 0.8% in the second quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after acquiring an additional 92 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after acquiring an additional 94 shares during the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BABA has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. JPMorgan Chase & Co. lowered their price target on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Robert W. Baird lifted their price target on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Finally, Mizuho set a $195.00 target price on shares of Alibaba Group in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Performance

NYSE BABA opened at $167.60 on Tuesday. The stock’s fifty day moving average is $162.23 and its two-hundred day moving average is $133.88. The firm has a market capitalization of $399.90 billion, a P/E ratio of 19.49, a price-to-earnings-growth ratio of 2.40 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67.

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.