Ethic Inc. Acquires 5,925 Shares of Alibaba Group Holding Limited $BABA

Ethic Inc. lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 38.4% in the second quarter, Holdings Channel.com reports. The fund owned 21,346 shares of the specialty retailer’s stock after purchasing an additional 5,925 shares during the quarter. Ethic Inc.’s holdings in Alibaba Group were worth $2,435,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have recently commented on BABA. Bank of America increased their target price on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Mizuho set a $195.00 target price on Alibaba Group in a report on Wednesday. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a report on Friday. Finally, Citigroup restated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Price Performance

Alibaba Group stock opened at $174.49 on Friday. The business’s 50-day simple moving average is $155.80 and its 200 day simple moving average is $130.53. The stock has a market cap of $416.00 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.30 and a beta of 0.18. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.