Profund Advisors LLC Raises Holdings in Alibaba Group Holding Limited $BABA

Profund Advisors LLC grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 19.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,182 shares of the specialty retailer’s stock after purchasing an additional 17,513 shares during the period. Alibaba Group comprises approximately 0.6% of Profund Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Profund Advisors LLC’s holdings in Alibaba Group were worth $19,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Alibaba Group during the second quarter worth approximately $527,243,000. Alkeon Capital Management LLC acquired a new stake in shares of Alibaba Group in the second quarter valued at approximately $184,291,000. Clear Street LLC acquired a new stake in shares of Alibaba Group in the 2nd quarter worth $58,503,000. National Bank of Canada FI increased its position in 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 purchasing an additional 475,053 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Alibaba Group by 8.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,267,441 shares of the specialty retailer’s stock worth $597,381,000 after buying an additional 390,883 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BABA shares. Benchmark reissued a “buy” rating and set a $195.00 price objective on shares of Alibaba Group in a research report on Tuesday, November 25th. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a report on Wednesday, January 21st. Freedom Capital downgraded shares of Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Barclays lifted their price target on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Citigroup upped 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. Eighteen investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $195.17.

Alibaba Group Price Performance

Shares of BABA opened at $162.57 on Monday. The stock’s 50 day moving average is $158.99 and its two-hundred day moving average is $154.00. The firm has a market capitalization of $388.12 billion, a PE ratio of 22.45, a P/E/G ratio of 3.55 and a beta of 0.39. 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 Holding Limited has a twelve month low of $95.73 and a twelve month high of $192.67.

About Alibaba Group

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.