Alibaba Group Holding Limited $BABA Shares Bought by Creative Planning

Creative Planning lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 25.8% during the second quarter, HoldingsChannel.com reports. The firm owned 204,643 shares of the specialty retailer’s stock after purchasing an additional 41,939 shares during the period. Creative Planning’s holdings in Alibaba Group were worth $23,209,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. 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 period. Sigma Planning Corp purchased a new position in Alibaba Group in the 1st quarter valued at approximately $233,000. Apollon Wealth Management LLC acquired a new position in Alibaba Group during the first quarter worth $450,000. Victory Capital Management Inc. boosted its position in Alibaba Group by 25.8% during the first quarter. Victory Capital Management Inc. now owns 15,770 shares of the specialty retailer’s stock worth $2,085,000 after purchasing an additional 3,233 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Alibaba Group by 235.5% in the first quarter. Cullen Frost Bankers Inc. now owns 369 shares of the specialty retailer’s stock valued at $49,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

BABA has been the topic of several recent research reports. Robert W. Baird boosted their price objective on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. cut their target price on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Sanford C. Bernstein raised their price objective on shares of Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Finally, Bank of America upped their target price on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Stock Performance

Shares of NYSE BABA opened at $153.66 on Monday. The company has a 50-day simple moving average of $167.90 and a 200-day simple moving average of $136.77. 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 company has a market cap of $366.64 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

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.