DAVENPORT & Co LLC Buys 27,166 Shares of Alibaba Group Holding Limited $BABA

DAVENPORT & Co LLC grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 170.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,142 shares of the specialty retailer’s stock after acquiring an additional 27,166 shares during the period. DAVENPORT & Co LLC’s holdings in Alibaba Group were worth $7,711,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after buying an additional 981 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of Alibaba Group during the first quarter valued at $1,840,000. Axiom Investors LLC DE bought a new position in Alibaba Group in the first quarter valued at about $276,909,000. Ieq Capital LLC increased its position in Alibaba Group by 615.2% in the first quarter. Ieq Capital LLC now owns 46,135 shares of the specialty retailer’s stock worth $6,100,000 after purchasing an additional 39,684 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Alibaba Group during the 1st quarter worth about $1,398,000. 13.47% of the stock is owned by institutional investors.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $150.09 on Friday. The stock’s fifty day simple moving average is $160.67 and its 200 day simple moving average is $143.16. 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 company has a market capitalization of $358.12 billion, a PE ratio of 20.73, a PEG ratio of 2.33 and a beta of 0.33. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Wall Street Analysts Forecast Growth

BABA has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Barclays raised their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Susquehanna raised their price target on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research report on Thursday, September 18th. Finally, UBS Group reaffirmed a “buy” rating and set a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. Seventeen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Alibaba Group Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.