Alibaba Group Holding Limited $BABA Shares Acquired by Ethic Inc.

Ethic Inc. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 38.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,346 shares of the specialty retailer’s stock after purchasing an additional 5,925 shares during the period. Ethic Inc.’s holdings in Alibaba Group were worth $2,435,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Accent Capital Management LLC increased its stake in shares of Alibaba Group by 5.5% during the 1st 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 last quarter. Greenleaf Trust increased its stake in shares of 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 purchasing an additional 85 shares during the last quarter. Principal Securities Inc. increased its stake in shares of Alibaba Group by 0.5% during the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock worth $2,225,000 after purchasing an additional 89 shares during the last quarter. CWM LLC increased its stake 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 purchasing an additional 92 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake 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 buying an additional 94 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Price Performance

Shares of Alibaba Group stock opened at $174.49 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. 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 fifty day moving average price of $155.80 and a two-hundred day moving average price of $130.53. The company has a market cap of $416.00 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.30 and a beta of 0.18.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. CLSA raised their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 2nd. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. UBS Group reiterated a “buy” rating and issued a $162.00 target price on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

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.