Scotia Capital Inc. Boosts Stock Holdings in Alibaba Group Holding Limited $BABA

Scotia Capital Inc. lifted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 37.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,868 shares of the specialty retailer’s stock after buying an additional 11,052 shares during the period. Scotia Capital Inc.’s holdings in Alibaba Group were worth $4,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its stake in Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after buying an additional 49,010,087 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares during the period. Goldman Sachs Group Inc. increased its holdings in Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares during the period. Finally, Axiom Investors LLC DE acquired a new position in shares of Alibaba Group during the first quarter worth about $276,909,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group reaffirmed a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Jefferies Financial Group lifted their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Macquarie reiterated an “outperform” rating on shares of Alibaba Group in a research note on Tuesday. 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 note on Wednesday, September 3rd. Finally, Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.89.

Alibaba Group Stock Performance

Shares of BABA stock opened at $157.19 on Friday. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market capitalization of $375.06 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The business has a 50 day simple moving average of $168.30 and a 200 day simple moving average of $138.85.

Alibaba Group 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.