VestGen Advisors LLC Buys 6,952 Shares of Alibaba Group Holding Limited $BABA

VestGen Advisors LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 229.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,983 shares of the specialty retailer’s stock after acquiring an additional 6,952 shares during the quarter. VestGen Advisors LLC’s holdings in Alibaba Group were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Accent Capital Management LLC grew its stake in Alibaba Group by 5.5% in the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after purchasing an additional 82 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Alibaba Group by 2.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock worth $480,000 after buying an additional 88 shares during the period. CWM LLC grew its position in shares of Alibaba Group by 0.8% during the 2nd quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after buying an additional 92 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Alibaba Group by 1.0% during the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock valued at $1,109,000 after buying an additional 94 shares during the period. Finally, EWG Elevate Inc. raised its holdings in shares of Alibaba Group by 5.2% in the second quarter. EWG Elevate Inc. now owns 1,977 shares of the specialty retailer’s stock valued at $224,000 after acquiring an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

NYSE BABA opened at $164.27 on Tuesday. The firm’s fifty day simple moving average is $168.30 and its two-hundred day simple moving average is $139.18. The firm has a market capitalization of $391.97 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Sanford C. Bernstein cut their target price on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. CLSA boosted their price objective on shares of Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Mizuho set a $195.00 target price on Alibaba Group in a report on Wednesday, October 22nd. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Bank of America upped their price objective on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.89.

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.