Clear Street LLC Acquires Shares of 515,853 Alibaba Group Holding Limited $BABA

by · The Markets Daily

Clear Street LLC acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 515,853 shares of the specialty retailer’s stock, valued at approximately $58,503,000. Alibaba Group accounts for approximately 0.2% of Clear Street LLC’s portfolio, making the stock its 11th biggest holding.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after purchasing an additional 981 shares during the period. Empower Advisory Group LLC purchased a new position in shares of Alibaba Group during the first quarter worth about $215,000. Wealthspire Advisors LLC increased its position in Alibaba Group by 6.5% in the 1st quarter. Wealthspire Advisors LLC now owns 2,914 shares of the specialty retailer’s stock valued at $385,000 after acquiring an additional 178 shares during the period. Exencial Wealth Advisors LLC acquired a new position in Alibaba Group in the 1st quarter valued at about $252,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Alibaba Group during the 1st quarter valued at approximately $1,840,000. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

NYSE:BABA opened at $158.38 on Friday. The firm’s fifty day simple moving average is $167.26 and its 200-day simple moving average is $139.94. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The stock has a market cap of $377.91 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.42 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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Erste Group Bank upgraded Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Nomura lifted their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Jefferies Financial Group upped their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Benchmark restated a “buy” rating and issued a $195.00 target price on shares of Alibaba Group in a research note on Tuesday, November 25th. Finally, Macquarie reiterated an “outperform” rating on shares of Alibaba Group in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $191.89.

Check Out Our Latest Report on BABA

About Alibaba Group

(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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