Jacobi Capital Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 5.8% in the first quarter, Holdings Channel.com reports. The fund owned 3,548 shares of the specialty retailer’s stock after buying an additional 194 shares during the quarter. Jacobi Capital Management LLC’s holdings in Alibaba Group were worth $386,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arete Wealth Advisors LLC lifted its stake in shares of Alibaba Group by 63.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 6,493 shares of the specialty retailer’s stock worth $708,000 after acquiring an additional 2,509 shares during the last quarter. LifePro Asset Management bought a new stake in Alibaba Group during the 1st quarter valued at $5,558,000. Private Management Group Inc. raised its position in Alibaba Group by 22.4% during the 1st quarter. Private Management Group Inc. now owns 197,790 shares of the specialty retailer’s stock valued at $21,520,000 after purchasing an additional 36,243 shares in the last quarter. Balentine LLC raised its position in Alibaba Group by 75.5% during the 1st quarter. Balentine LLC now owns 7,655 shares of the specialty retailer’s stock valued at $833,000 after purchasing an additional 3,293 shares in the last quarter. Finally, Pzena Investment Management LLC raised its position in Alibaba Group by 1.8% during the 1st quarter. Pzena Investment Management LLC now owns 31,401 shares of the specialty retailer’s stock valued at $3,416,000 after purchasing an additional 548 shares in the last quarter. 17.39% of the stock is owned by institutional investors.
Alibaba Group Stock Down 5.0 %
Alibaba Group stock opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.66 and a current ratio of 1.66. The business’s 50-day simple moving average is $105.41 and its two-hundred day simple moving average is $104.62. The company has a market cap of $245.11 billion, a PE ratio of 51.42, a PEG ratio of 1.64 and a beta of 0.58. Alibaba Group Holding Limited has a fifty-two week low of $73.28 and a fifty-two week high of $199.32.
Wall Street Analyst Weigh In
BABA has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their target price on Alibaba Group from $163.00 to $167.00 in a research report on Monday, July 11th. Citigroup decreased their target price on Alibaba Group from $176.00 to $172.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. JPMorgan Chase & Co. lifted their target price on Alibaba Group from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, July 5th. Robert W. Baird decreased their target price on Alibaba Group from $160.00 to $144.00 and set an “outperform” rating for the company in a research report on Monday, May 23rd. Finally, Truist Financial lifted their price target on Alibaba Group from $132.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.83.
Alibaba Group Company Profile
Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to merchants, brands, retailers, and other businesses to engage with their users and customers in the People's Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.
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