Oppenheimer Asset Management Inc. Grows Stock Holdings in Alibaba Group Holding Limited $BABA

Oppenheimer Asset Management Inc. raised its stake in Alibaba Group Holding Limited (NYSE:BABA) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,469 shares of the specialty retailer’s stock after buying an additional 4,455 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Alibaba Group were worth $6,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently modified their holdings of BABA. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the first quarter valued at approximately $26,000. Summit Securities Group LLC lifted its holdings in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group in the 1st quarter worth $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group in the 1st quarter worth $26,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group in the 2nd quarter worth $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BABA shares. Mizuho set a $195.00 price objective on shares of Alibaba Group in a research note on Wednesday, October 22nd. Barclays upped their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. lowered their price target on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a report on Wednesday, September 3rd. Finally, Sanford C. Bernstein upped their target price on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $179.32 on Tuesday. The company has a market cap of $427.52 billion, a PE ratio of 20.85, a P/E/G ratio of 2.33 and a beta of 0.18. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The business has a 50-day simple moving average of $156.96 and a two-hundred day simple moving average of $131.44. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67.

Alibaba Group Company Profile

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.