Resonant Capital Advisors LLC Purchases 496 Shares of Alibaba Group Holding Limited $BABA

Resonant Capital Advisors LLC increased its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 19.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,025 shares of the specialty retailer’s stock after buying an additional 496 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Alibaba Group were worth $349,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Accent Capital Management LLC grew 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 buying an additional 82 shares in the last quarter. Greenleaf Trust increased its position 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 position 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 position 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 increased its position in shares of Alibaba Group by 1.0% during the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after purchasing an additional 94 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BABA. JPMorgan Chase & Co. lowered their price target on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, October 9th. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. Sanford C. Bernstein boosted their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group boosted their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $179.32 on Tuesday. The company has a current ratio of 1.45, a quick 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 stock has a 50 day moving average of $156.96 and a 200-day moving average of $131.44. The company has a market capitalization of $427.52 billion, a P/E ratio of 20.85, a P/E/G ratio of 2.33 and a beta of 0.18.

Alibaba Group Company 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.