Plato Investment Management Ltd Has $636,000 Position in Alibaba Group Holding Limited $BABA

Plato Investment Management Ltd boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,628 shares of the specialty retailer’s stock after buying an additional 388 shares during the quarter. Plato Investment Management Ltd’s holdings in Alibaba Group were worth $636,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Balentine LLC lifted its stake in shares of Alibaba Group by 54.0% in the 2nd quarter. Balentine LLC now owns 5,796 shares of the specialty retailer’s stock valued at $657,000 after purchasing an additional 2,033 shares during the period. Haven Private LLC acquired a new position in shares of Alibaba Group in the 2nd quarter valued at about $452,000. Integrity Alliance LLC. lifted its stake in shares of Alibaba Group by 67.0% in the 2nd quarter. Integrity Alliance LLC. now owns 9,142 shares of the specialty retailer’s stock valued at $1,037,000 after purchasing an additional 3,668 shares during the period. Simon Quick Advisors LLC lifted its stake in shares of Alibaba Group by 15.0% in the 2nd quarter. Simon Quick Advisors LLC now owns 6,538 shares of the specialty retailer’s stock valued at $741,000 after purchasing an additional 854 shares during the period. Finally, Savvy Advisors Inc. lifted its stake in shares of Alibaba Group by 9.1% in the 2nd quarter. Savvy Advisors Inc. now owns 6,233 shares of the specialty retailer’s stock valued at $707,000 after purchasing an additional 521 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 2.2%

NYSE BABA opened at $170.17 on Monday. The company has a market cap of $406.04 billion, a price-to-earnings ratio of 19.79, a P/E/G ratio of 2.40 and a beta of 0.18. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The business has a 50 day moving average price of $161.36 and a 200-day moving average price of $133.46. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Arete raised Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a research note on Wednesday, September 3rd. Jefferies Financial Group boosted their price objective on Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, September 29th. Bank of America boosted their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Mizuho set a $195.00 price target on Alibaba Group in a research note on Wednesday, October 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

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.