BigSur Wealth Management LLC Acquires 900 Shares of Alibaba Group Holding Limited $BABA

BigSur Wealth Management LLC grew its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 3.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,630 shares of the specialty retailer’s stock after acquiring an additional 900 shares during the period. BigSur Wealth Management LLC’s holdings in Alibaba Group were worth $2,958,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BABA. Brighton Jones LLC grew its position in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after acquiring an additional 981 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock valued at $266,000 after purchasing an additional 108 shares during the last quarter. Lighthouse Financial LLC purchased a new position in shares of Alibaba Group in the 4th quarter worth approximately $237,000. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Alibaba Group during the 4th quarter valued at approximately $289,000. Finally, Fairtree Asset Management Pty Ltd purchased a new stake in Alibaba Group during the 4th quarter valued at $4,881,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BABA has been the subject of several recent analyst reports. Zacks Research raised shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Susquehanna lifted their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a research note on Thursday, September 18th. Benchmark upped their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Arete upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average price target of $172.81.

Alibaba Group Trading Up 8.3%

Shares of BABA opened at $176.66 on Thursday. The firm has a market capitalization of $421.16 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.00 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. Alibaba Group Holding Limited has a 1-year low of $80.06 and a 1-year high of $180.16. The company has a 50-day moving average of $132.17 and a 200 day moving average of $124.18.

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.