Envestnet Asset Management Inc. Raises Stock Holdings in Alibaba Group Holding Limited $BABA

Envestnet Asset Management Inc. grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 4.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,060 shares of the specialty retailer’s stock after buying an additional 18,349 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alibaba Group were worth $72,039,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Traphagen Investment Advisors LLC increased its holdings in Alibaba Group by 2.0% in the 3rd quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock worth $539,000 after acquiring an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Alibaba Group by 26.4% during the third quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 63 shares in the last quarter. Bluesphere Advisors LLC raised its position in shares of Alibaba Group by 2.2% during the 3rd quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock worth $540,000 after purchasing an additional 64 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after buying an additional 65 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in Alibaba Group by 1.0% in the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock worth $1,191,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BABA shares. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a report on Tuesday, November 25th. Wall Street Zen downgraded Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Nomura lifted their target price on shares of Alibaba Group from $193.00 to $237.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Freedom Capital cut shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Macquarie Infrastructure restated an “outperform” rating on shares of Alibaba Group in a research report on Tuesday, November 25th. Eighteen equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Trading Up 3.0%

Shares of BABA opened at $162.57 on Monday. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The firm has a market capitalization of $388.12 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.55 and a beta of 0.39. The firm has a 50-day moving average price of $158.99 and a 200 day moving average price of $154.00. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23.

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.