Avenir Tech Ltd Invests $2.95 Million in Alibaba Group Holding Limited $BABA

Avenir Tech Ltd acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 26,000 shares of the specialty retailer’s stock, valued at approximately $2,949,000. Alibaba Group makes up approximately 0.2% of Avenir Tech Ltd’s holdings, making the stock its 10th largest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC increased its holdings in shares of Alibaba Group by 100.3% in the first 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 in the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. 1248 Management LLC bought a new stake in Alibaba Group during the 1st quarter worth approximately $26,000. Rosenberg Matthew Hamilton acquired a new stake in Alibaba Group during the 2nd quarter worth approximately $26,000. Finally, Stone House Investment Management LLC bought a new position in Alibaba Group in the first quarter valued at approximately $34,000. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BABA. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research note on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Macquarie reiterated an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Finally, Bank of America boosted 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. Eighteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus price target of $194.11.

Alibaba Group Trading Down 0.1%

NYSE BABA opened at $158.14 on Tuesday. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $166.83 and a 200-day moving average of $140.42. The company has a market cap of $377.32 billion, a PE ratio of 21.84, a PEG ratio of 2.43 and a beta of 0.33.

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.