Teachers Retirement System of The State of Kentucky acquired a new stake in Alibaba Group Holding Limited (NYSE:BABA – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 60,290 shares of the specialty retailer’s stock, valued at approximately $4,823,000.
Other hedge funds have also recently bought and sold shares of the company. New Millennium Group LLC bought a new stake in shares of Alibaba Group during the 2nd quarter worth about $25,000. Sargent Bickham Lagudis LLC raised its position in shares of Alibaba Group by 183.5% during the 3rd 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. bought a new stake in shares of Alibaba Group during the 3rd quarter worth about $42,000. Fairfield Bush & CO. bought a new stake in shares of Alibaba Group during the 1st quarter worth about $53,000. Finally, Lumature Wealth Partners LLC raised its position in shares of Alibaba Group by 57.0% during the 1st 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 currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BABA has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Alibaba Group from a “buy” rating to a “conviction-buy” rating in a research report on Sunday, January 8th. Barclays boosted their price target on shares of Alibaba Group from $114.00 to $141.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 11th. Truist Financial lifted 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. StockNews.com assumed coverage on shares of Alibaba Group in a research note on Thursday. They issued a “hold” rating on the stock. Finally, Morgan Stanley lifted their price objective on shares of Alibaba Group from $100.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 9th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $148.13.
Alibaba Group Stock Down 0.7 %
Alibaba Group Profile
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.
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