Profund Advisors LLC Acquires 5,882 Shares of Alibaba Group Holding Limited $BABA

Profund Advisors LLC grew its stake in Alibaba Group Holding Limited (NYSE:BABA) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,669 shares of the specialty retailer’s stock after purchasing an additional 5,882 shares during the period. Profund Advisors LLC’s holdings in Alibaba Group were worth $10,169,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group during the first quarter worth $26,000. Summit Securities Group LLC grew its stake in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group in the first quarter worth approximately $26,000. 1248 Management LLC purchased a new position in Alibaba Group during the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in Alibaba Group in the 2nd quarter valued at $26,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $166.06 on Monday. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $396.22 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.40 and a beta of 0.19. The business’s 50 day moving average price is $165.47 and its 200 day moving average price is $135.35.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BABA. Citigroup reissued a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. Zacks Research downgraded shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. UBS Group reaffirmed a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a report on Sunday, August 31st. Jefferies Financial Group raised their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Benchmark boosted their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average 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.