Alibaba Group Holding Limited $BABA Stock Position Raised by Rathbones Group PLC

Rathbones Group PLC increased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 14.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,573 shares of the specialty retailer’s stock after acquiring an additional 7,838 shares during the quarter. Rathbones Group PLC’s holdings in Alibaba Group were worth $6,983,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC lifted its stake in Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the first quarter worth about $26,000. 1248 Management LLC acquired a new position in shares of Alibaba Group in the first quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Alibaba Group in the second quarter worth approximately $26,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 0.9%

Shares of NYSE:BABA opened at $166.06 on Monday. The firm has a fifty day moving average of $165.47 and a two-hundred day moving average of $135.35. The company has a quick ratio of 1.45, a current 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. The firm has a market capitalization of $396.22 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19.

Wall Street Analyst Weigh In

Several brokerages recently commented on BABA. Barclays upped their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. cut 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. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a report on Wednesday, September 3rd. Susquehanna raised their target price on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Finally, Jefferies Financial Group lifted their price target on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.