Legacy Financial Advisors Inc. Raises Holdings in Alibaba Group Holding Limited $BABA

Legacy Financial Advisors Inc. raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 97.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,589 shares of the specialty retailer’s stock after purchasing an additional 3,251 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Alibaba Group were worth $871,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BABA. Mirae Asset Global Investments Co. Ltd. raised its position in Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer’s stock valued at $578,992,000 after purchasing an additional 4,246,564 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after acquiring an additional 2,885,154 shares during the last quarter. Trivest Advisors Ltd purchased a new stake in shares of Alibaba Group during the first quarter worth about $295,270,000. Invesco Ltd. increased its position in shares of Alibaba Group by 55.9% during the first quarter. Invesco Ltd. now owns 3,513,012 shares of the specialty retailer’s stock worth $464,526,000 after acquiring an additional 1,259,718 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Alibaba Group by 95.4% during the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer’s stock worth $179,087,000 after acquiring an additional 1,030,999 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Stock Performance

Shares of BABA stock opened at $121.41 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $116.23 and a two-hundred day moving average of $120.75. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 week high of $148.43. The company has a market cap of $289.54 billion, a P/E ratio of 16.30, a PEG ratio of 1.78 and a beta of 0.17.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley set a $180.00 target price on Alibaba Group in a research report on Wednesday, May 14th. Loop Capital set a $176.00 target price on Alibaba Group in a research report on Friday, May 16th. Benchmark reaffirmed a “buy” rating on shares of Alibaba Group in a research report on Monday, July 21st. Barclays dropped their target price on Alibaba Group from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 15th. Finally, Arete Research downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.38.

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.