Vise Technologies Inc. Invests $7.80 Million in Alibaba Group Holding Limited $BABA

Vise Technologies Inc. purchased a new position in Alibaba Group Holding Limited (NYSE:BABA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 68,744 shares of the specialty retailer’s stock, valued at approximately $7,796,000.

Several other hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Alibaba Group during the first quarter worth $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group in the 1st quarter worth about $26,000. Summit Securities Group LLC boosted its position 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 in the last quarter. Ransom Advisory Ltd acquired a new stake in Alibaba Group in the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. increased its holdings in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after acquiring an additional 196 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

Alibaba Group Trading Down 0.9%

Shares of Alibaba Group stock opened at $166.06 on Monday. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. The business’s fifty day moving average is $165.47 and its two-hundred day moving average is $135.35. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $396.22 billion, a PE ratio of 19.31, a P/E/G ratio of 2.40 and a beta of 0.19.

Wall Street Analyst Weigh In

Several analysts have issued reports on BABA shares. Nomura upped their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Jefferies Financial Group lifted their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. UBS Group reiterated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Sanford C. Bernstein raised their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Finally, Susquehanna upped their price objective on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

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.