Allworth Financial LP Has $801,000 Position in Alibaba Group Holding Limited $BABA

Allworth Financial LP raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 98.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,065 shares of the specialty retailer’s stock after acquiring an additional 3,507 shares during the period. Allworth Financial LP’s holdings in Alibaba Group were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. North Ridge Wealth Advisors Inc. bought a new position in shares of Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the first quarter valued at about $26,000. 1248 Management LLC bought a new position in Alibaba Group during the 1st quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in Alibaba Group in the 2nd quarter worth $26,000. Institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Robert W. Baird lifted their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. UBS Group reiterated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Jefferies Financial Group increased their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Finally, CLSA upped their price target on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Price Performance

Alibaba Group stock opened at $153.66 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company’s fifty day moving average price is $167.90 and its 200 day moving average price is $136.53. The stock has a market capitalization of $366.64 billion, a P/E ratio of 17.87, a P/E/G ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67.

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.