China Universal Asset Management Co. Ltd. Takes Position in Alibaba Group Holding Limited $BABA

China Universal Asset Management Co. Ltd. bought a new position in Alibaba Group Holding Limited (NYSE:BABA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,923 shares of the specialty retailer’s stock, valued at approximately $5,527,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mather Group LLC. acquired a new position in shares of Alibaba Group in the 3rd quarter valued at $30,000. NBT Bank N A NY boosted its holdings in Alibaba Group by 231.5% in the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares during the last quarter. Richardson Financial Services Inc. grew its position in Alibaba Group by 34.4% during the third quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock valued at $45,000 after acquiring an additional 65 shares during the period. MMA Asset Management LLC acquired a new stake in Alibaba Group during the third quarter worth about $51,000. Finally, JCIC Asset Management Inc. purchased a new position in shares of Alibaba Group in the 3rd quarter worth about $53,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Alibaba Group stock opened at $154.35 on Friday. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market capitalization of $368.50 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 3.41 and a beta of 0.39. The firm’s fifty day moving average price is $159.00 and its 200 day moving average price is $155.98.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Macquarie Infrastructure reiterated an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Benchmark reiterated a “buy” rating and set a $195.00 price objective on shares of Alibaba Group in a research note on Tuesday, November 25th. Wall Street Zen downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Erste Group Bank cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays increased their price target on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

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.