Legacy Financial Advisors Inc. Makes New Investment in Alibaba Group Holding Limited $BABA

Legacy Financial Advisors Inc. purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 4,557 shares of the specialty retailer’s stock, valued at approximately $814,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NTV Asset Management LLC raised its stake 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 valued at $2,707,000 after purchasing an additional 8,484 shares in the last quarter. Marex Group plc acquired a new position in Alibaba Group during the 2nd quarter valued at about $17,139,000. Y Intercept Hong Kong Ltd raised its position in shares of Alibaba Group by 197.0% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock worth $3,881,000 after buying an additional 22,701 shares in the last quarter. RD Finance Ltd acquired a new stake in shares of Alibaba Group in the 2nd quarter worth approximately $3,408,000. Finally, Oriental Harbor Investment Master Fund bought a new position in shares of Alibaba Group in the third quarter valued at approximately $39,500,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.0%

Shares of NYSE BABA opened at $152.90 on Tuesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. Alibaba Group Holding Limited has a 12 month low of $95.73 and a 12 month high of $192.67. The company has a market cap of $365.04 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 3.38 and a beta of 0.39. The business has a fifty day simple moving average of $159.04 and a 200-day simple moving average of $156.99.

Analyst Ratings Changes

Several equities research analysts recently commented on BABA shares. Morgan Stanley dropped their target price on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, January 8th. Wall Street Zen downgraded Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Loop Capital set a $140.00 price objective on Alibaba Group in a report on Tuesday, January 6th. Barclays lifted their target price on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, January 21st. Seventeen investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $195.17.

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.