Guggenheim Capital LLC Buys 2,817 Shares of Alibaba Group Holding Limited (NYSE:BABA)

Guggenheim Capital LLC raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 22.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,152 shares of the specialty retailer’s stock after acquiring an additional 2,817 shares during the period. Guggenheim Capital LLC’s holdings in Alibaba Group were worth $1,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eubel Brady & Suttman Asset Management Inc. lifted its stake in shares of Alibaba Group by 5.3% in the 2nd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 2,464 shares of the specialty retailer’s stock worth $280,000 after purchasing an additional 125 shares during the period. 180 Wealth Advisors LLC lifted its stake in shares of Alibaba Group by 2.6% in the 3rd quarter. 180 Wealth Advisors LLC now owns 6,216 shares of the specialty retailer’s stock worth $497,000 after purchasing an additional 159 shares during the period. CI Investments Inc. lifted its stake in shares of Alibaba Group by 3.6% in the 2nd quarter. CI Investments Inc. now owns 4,594 shares of the specialty retailer’s stock worth $522,000 after purchasing an additional 160 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of Alibaba Group by 6.0% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 2,923 shares of the specialty retailer’s stock worth $234,000 after purchasing an additional 166 shares during the period. Finally, Old Port Advisors lifted its stake in shares of Alibaba Group by 3.0% in the 3rd quarter. Old Port Advisors now owns 5,939 shares of the specialty retailer’s stock worth $501,000 after purchasing an additional 173 shares during the period. Institutional investors own 13.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. KGI Securities upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating in a research note on Friday, February 24th. Mizuho decreased their target price on shares of Alibaba Group from $160.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Barclays raised their target price on shares of Alibaba Group from $114.00 to $141.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 11th. Robert W. Baird decreased their target price on shares of Alibaba Group from $140.00 to $120.00 in a research note on Friday, November 18th. Finally, Truist Financial raised their target price on shares of Alibaba Group from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $148.13.

Alibaba Group Trading Down 0.1 %

BABA stock opened at $89.62 on Tuesday. The firm has a fifty day moving average price of $104.08 and a 200 day moving average price of $89.61. Alibaba Group Holding Limited has a fifty-two week low of $58.01 and a fifty-two week high of $125.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market cap of $237.33 billion, a PE ratio of 49.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.63.

About Alibaba Group

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Alibaba Group Holding Ltd. engages in providing technology infrastructure and marketing reach. It operates through the following business segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others segments.