Alibaba Group Holding Limited $BABA Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,798 shares of the specialty retailer’s stock after buying an additional 534 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Alibaba Group were worth $544,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of BABA. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group in the 1st quarter valued at about $26,000. Summit Securities Group LLC increased its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Alibaba Group during the 1st quarter valued at about $26,000. 1248 Management LLC acquired a new stake in shares of Alibaba Group during the 1st quarter worth about $26,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in shares of Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.7%

Shares of NYSE:BABA opened at $187.94 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a fifty day simple moving average of $140.65 and a 200 day simple moving average of $126.04. The firm has a market cap of $448.06 billion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.22 and a beta of 0.18. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

Analysts Set New Price Targets

BABA has been the topic of several analyst reports. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. Mizuho raised their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. raised their price target on shares of Alibaba Group from $170.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays raised their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Finally, Bank of America lifted their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $181.88.

Alibaba Group Company 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.