Allianz Asset Management GmbH Grows Stock Holdings in Alibaba Group Holding Limited $BABA

Allianz Asset Management GmbH raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 18.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 561,516 shares of the specialty retailer’s stock after acquiring an additional 86,199 shares during the period. Allianz Asset Management GmbH’s holdings in Alibaba Group were worth $63,682,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BABA. Accent Capital Management LLC lifted 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 purchasing an additional 82 shares during the period. Greenleaf Trust raised 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 buying an additional 85 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of Alibaba Group by 0.5% in the 1st 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 period. CWM LLC increased its stake in shares of Alibaba Group by 0.8% during 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 period. Finally, Institute for Wealth Management LLC. increased its stake in shares of Alibaba Group by 1.1% during the first quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after acquiring an additional 93 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 1.2%

Alibaba Group stock opened at $167.03 on Friday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The firm has a market capitalization of $398.21 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.21 and a beta of 0.18. The stock’s fifty day moving average is $150.98 and its two-hundred day moving average is $128.65. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BABA. Robert W. Baird raised their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Mizuho lifted their price target on Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. CLSA upped their price objective on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 2nd. Arete Research raised Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Finally, Nomura upped their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $188.06.

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.