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

Envestnet Asset Management Inc. boosted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BABA. NTV Asset Management LLC increased its position in shares of Alibaba Group by 127.4% during the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock worth $2,707,000 after acquiring an additional 8,484 shares during the period. Marex Group plc purchased a new stake in Alibaba Group during the 2nd quarter worth about $17,139,000. Y Intercept Hong Kong Ltd raised its position in Alibaba Group by 197.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after purchasing an additional 22,701 shares in the last quarter. RD Finance Ltd purchased a new position in shares of Alibaba Group in the 2nd quarter valued at about $3,408,000. Finally, National Bank of Canada FI grew its position in shares of Alibaba Group by 373.5% during the second quarter. National Bank of Canada FI now owns 602,233 shares of the specialty retailer’s stock worth $68,294,000 after buying an additional 475,053 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BABA shares. Citigroup raised their target price on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Zacks Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Rosenblatt Securities set a $195.00 price objective on shares of Alibaba Group in a research report on Wednesday, November 26th. Macquarie Infrastructure reissued an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. Finally, Morgan Stanley cut their price target on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, January 8th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Stock Performance

Shares of BABA opened at $162.57 on Monday. The company’s 50 day simple moving average is $158.99 and its 200-day simple moving average is $154.00. The firm has a market cap of $388.12 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 3.55 and a beta of 0.39. Alibaba Group Holding Limited has a 12-month low of $95.73 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.

Alibaba Group Company 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.