Guggenheim Capital LLC Acquires 8,256 Shares of Alibaba Group Holding Limited $BABA

by · The Cerbat Gem

Guggenheim Capital LLC lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 116.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,350 shares of the specialty retailer’s stock after acquiring an additional 8,256 shares during the quarter. Guggenheim Capital LLC’s holdings in Alibaba Group were worth $1,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BABA. EverSource Wealth Advisors LLC raised its holdings in Alibaba Group by 8.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,785 shares of the specialty retailer’s stock worth $316,000 after purchasing an additional 227 shares in the last quarter. CW Advisors LLC raised its stake in Alibaba Group by 4.5% in the second quarter. CW Advisors LLC now owns 8,906 shares of the specialty retailer’s stock worth $1,010,000 after buying an additional 380 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Alibaba Group in the second quarter worth about $87,000. Taikang Asset Management Hong Kong Co Ltd boosted its position in Alibaba Group by 21.4% during the 2nd quarter. Taikang Asset Management Hong Kong Co Ltd now owns 170,000 shares of the specialty retailer’s stock valued at $19,280,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Westerkirk Capital Inc. bought a new stake in Alibaba Group during the 2nd quarter valued at approximately $485,000. Institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BABA has been the subject of several research reports. Nomura increased their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Barclays increased their price objective on Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Susquehanna boosted their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. Arete Research set a $172.00 price target on shares of Alibaba Group in a research report on Tuesday. Finally, Jefferies Financial Group boosted their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Seventeen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Read Our Latest Report on Alibaba Group

Alibaba Group Stock Down 1.4%

NYSE:BABA opened at $155.97 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market cap of $372.16 billion, a P/E ratio of 21.54, a P/E/G ratio of 2.43 and a beta of 0.33. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The firm has a 50-day simple moving average of $166.37 and a two-hundred day simple moving average of $140.67.

Alibaba Group Company Profile

(Free Report)

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.

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