Legacy Financial Advisors Inc. Takes $814,000 Position in Alibaba Group Holding Limited $BABA

Legacy Financial Advisors Inc. purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,557 shares of the specialty retailer’s stock, valued at approximately $814,000.

Several other institutional investors have also recently added to or reduced their stakes in BABA. Verus Capital Partners LLC grew its holdings in Alibaba Group by 129.2% during the 3rd quarter. Verus Capital Partners LLC now owns 9,872 shares of the specialty retailer’s stock worth $1,764,000 after acquiring an additional 5,565 shares in the last quarter. Aries Wealth Management raised its stake in shares of Alibaba Group by 18.9% in the 3rd quarter. Aries Wealth Management now owns 2,395 shares of the specialty retailer’s stock valued at $428,000 after purchasing an additional 380 shares in the last quarter. O Neil Global Advisors Inc. bought a new position in shares of Alibaba Group during the third quarter worth about $3,127,000. Clearstead Advisors LLC grew its stake in Alibaba Group by 59.0% in the third quarter. Clearstead Advisors LLC now owns 3,151 shares of the specialty retailer’s stock worth $563,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Equitable Trust Co. acquired a new position in Alibaba Group in the third quarter worth about $425,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Trading Down 1.0%

NYSE:BABA opened at $152.90 on Tuesday. The firm has a market capitalization of $365.04 billion, a P/E ratio of 21.12, a P/E/G ratio of 3.38 and a beta of 0.39. The business has a 50 day simple moving average of $159.04 and a 200 day simple moving average of $156.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. Alibaba Group Holding Limited has a 12-month low of $95.73 and a 12-month high of $192.67.

Analyst Ratings Changes

Several brokerages have issued reports on BABA. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Wednesday, January 21st. Freedom Capital lowered Alibaba Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 6th. Loop Capital set a $140.00 price objective on Alibaba Group in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, January 21st. Finally, Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a research note on Tuesday, November 25th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.17.

About Alibaba Group

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.