CIBC Bancorp USA Inc. Buys Shares of 399,583 Alibaba Group Holding Limited $BABA

CIBC Bancorp USA Inc. purchased a new stake in Alibaba Group Holding Limited (NYSE:BABAFree Report) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 399,583 shares of the specialty retailer’s stock, valued at approximately $71,418,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ameriflex Group Inc. raised its holdings in Alibaba Group by 101.4% in the 3rd quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 72 shares during the period. Mather Group LLC. purchased a new position in Alibaba Group during the third quarter worth about $30,000. Foster Dykema Cabot & Partners LLC purchased a new position in Alibaba Group during the third quarter worth about $30,000. NBT Bank N A NY increased its position in shares of Alibaba Group by 231.5% during 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. Finally, Palisade Asset Management LLC purchased a new stake in shares of Alibaba Group in the 3rd quarter valued at approximately $37,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on BABA shares. Weiss Ratings lowered shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, February 27th. Loop Capital set a $140.00 target price on Alibaba Group in a research report on Tuesday, January 6th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Sixteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $195.17.

Get Our Latest Stock Report on BABA

Alibaba Group Trading Down 0.1%

Shares of BABA stock opened at $136.51 on Wednesday. Alibaba Group Holding Limited has a fifty-two week low of $95.73 and a fifty-two week high of $192.67. The company has a 50 day moving average price of $155.40 and a 200 day moving average price of $158.81. The stock has a market capitalization of $325.91 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 2.99 and a beta of 0.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46.

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About Alibaba Group

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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