1,625,000 Shares in Alibaba Group Holding Limited $BABA Purchased by Alkeon Capital Management LLC

Alkeon Capital Management LLC bought a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, Holdings Channel reports. The fund bought 1,625,000 shares of the specialty retailer’s stock, valued at approximately $184,291,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC grew its position in shares of Alibaba Group by 1.8% in the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer’s stock valued at $539,000 after purchasing an additional 83 shares during the period. Wedbush Securities Inc. boosted its holdings in Alibaba Group by 2.1% in the 2nd quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer’s stock worth $480,000 after buying an additional 88 shares during the last quarter. CWM LLC increased its stake in Alibaba Group by 0.8% during the 2nd quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after buying an additional 92 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Alibaba Group by 1.0% in the second quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock valued at $1,109,000 after acquiring an additional 94 shares in the last quarter. Finally, EWG Elevate Inc. increased its position in shares of Alibaba Group by 5.2% during the second quarter. EWG Elevate Inc. now owns 1,977 shares of the specialty retailer’s stock worth $224,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of BABA opened at $155.56 on Friday. The firm has a 50-day simple moving average of $164.60 and a two-hundred day simple moving average of $141.15. The stock has a market cap of $371.18 billion, a PE ratio of 21.49, a P/E/G ratio of 2.41 and a beta of 0.33. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Zacks Research lowered Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Susquehanna upped their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Arete Research set a $172.00 price target on Alibaba Group in a report on Tuesday. Barclays raised their target price on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Finally, Wall Street Zen cut shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. 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 company’s stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Alibaba Group Profile

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.