Alibaba Group Holding Limited $BABA Shares Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. grew its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 60.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,493 shares of the specialty retailer’s stock after purchasing an additional 29,160 shares during the period. Itau Unibanco Holding S.A.’s holdings in Alibaba Group were worth $8,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BABA. Brighton Jones LLC lifted its position in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares during the last quarter. Sigma Planning Corp acquired a new stake in shares of Alibaba Group during the first quarter worth $233,000. Apollon Wealth Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at $450,000. Victory Capital Management Inc. boosted its position in shares of Alibaba Group by 25.8% in the 1st quarter. Victory Capital Management Inc. now owns 15,770 shares of the specialty retailer’s stock valued at $2,085,000 after purchasing an additional 3,233 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Alibaba Group by 235.5% in the 1st quarter. Cullen Frost Bankers Inc. now owns 369 shares of the specialty retailer’s stock worth $49,000 after purchasing an additional 259 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on BABA shares. Nomura upped their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Wednesday, September 3rd. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. JPMorgan Chase & Co. reduced their target price on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, October 9th. Finally, Jefferies Financial Group raised their target price on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Stock Performance

Shares of BABA stock opened at $153.66 on Friday. The firm has a market cap of $366.64 billion, a P/E ratio of 17.87, a PEG ratio of 2.40 and a beta of 0.19. 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 stock’s 50-day moving average is $167.90 and its two-hundred day moving average is $136.65.

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.