Canopy Partners LLC Grows Stock Holdings in Alibaba Group Holding Limited $BABA

Canopy Partners LLC raised its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 7.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,204 shares of the specialty retailer’s stock after purchasing an additional 145 shares during the period. Canopy Partners LLC’s holdings in Alibaba Group were worth $250,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its position in Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after purchasing an additional 49,010,087 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after purchasing an additional 3,947,460 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its stake in shares of Alibaba Group by 23.4% during the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after buying an additional 1,045,789 shares during the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent research reports. Wall Street Zen cut Alibaba Group from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Bank of America raised 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. Jefferies Financial Group raised 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. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $160.00 price objective on shares of Alibaba Group in a research note on Saturday, August 30th. Finally, Benchmark raised their price objective on Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Buy” and an average target price of $184.19.

Alibaba Group Price Performance

BABA stock opened at $181.21 on Wednesday. The firm has a 50 day moving average price of $143.19 and a 200-day moving average price of $126.71. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The firm has a market capitalization of $432.02 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.21 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

About Alibaba Group

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.