FourThought Financial LLC Acquires 1,232 Shares of Alibaba Group Holding Limited (NYSE:BABA)

FourThought Financial LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA – Get Rating) by 39.2% during the third quarter, Holdings Channel.com reports. The fund owned 4,377 shares of the specialty retailer’s stock after purchasing an additional 1,232 shares during the quarter. FourThought Financial LLC’s holdings in Alibaba Group were worth $350,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. New Millennium Group LLC acquired a new stake in Alibaba Group during the second quarter worth about $25,000. Sargent Bickham Lagudis LLC grew its stake in Alibaba Group by 183.5% during the third quarter. Sargent Bickham Lagudis LLC now owns 516 shares of the specialty retailer’s stock worth $41,000 after buying an additional 334 shares in the last quarter. Ameliora Wealth Management Ltd. acquired a new stake in Alibaba Group during the third quarter worth about $42,000. Fairfield Bush & CO. acquired a new stake in Alibaba Group during the first quarter worth about $53,000. Finally, Lumature Wealth Partners LLC grew its stake in Alibaba Group by 57.0% during the first quarter. Lumature Wealth Partners LLC now owns 609 shares of the specialty retailer’s stock worth $66,000 after buying an additional 221 shares in the last quarter. 13.86% of the stock is owned by institutional investors.

Alibaba Group Stock Up 0.9 %

Alibaba Group stock opened at $82.22 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74. Alibaba Group Holding Limited has a 52-week low of $58.01 and a 52-week high of $125.84. The firm has a 50 day moving average price of $102.67 and a two-hundred day moving average price of $89.15. The firm has a market cap of $217.73 billion, a price-to-earnings ratio of 45.18, a PEG ratio of 1.05 and a beta of 0.63.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their price objective on shares of Alibaba Group from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. HSBC reduced their price target on shares of Alibaba Group from $132.00 to $124.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Citigroup raised their price target on shares of Alibaba Group from $144.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, January 10th. Barclays raised their price target on shares of Alibaba Group from $114.00 to $141.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Finally, KGI Securities upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating in a research note on Friday, February 24th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $148.13.

Alibaba Group Profile

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Alibaba Group Holding Ltd. engages in providing technology infrastructure and marketing reach. It operates through the following business segments: China Commerce, International Commerce, Local Consumer Services, Cainiao, Cloud, Digital Media and Entertainment, and Innovation Initiatives and Others segments.