Fluent Financial LLC Purchases 9,122 Shares of Alibaba Group Holding Limited $BABA

Fluent Financial LLC raised its holdings in shares of Alibaba Group Holding Limited (NYSE:BABAFree Report) by 99.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 18,315 shares of the specialty retailer’s stock after buying an additional 9,122 shares during the period. Fluent Financial LLC’s holdings in Alibaba Group were worth $2,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BABA. Clear Creek Financial Management LLC bought a new position in Alibaba Group in the second quarter valued at $201,000. Castle Rock Wealth Management LLC acquired a new position in shares of Alibaba Group during the 2nd quarter worth about $270,000. Winthrop Advisory Group LLC grew its holdings in shares of Alibaba Group by 49.1% in the 2nd quarter. Winthrop Advisory Group LLC now owns 3,445 shares of the specialty retailer’s stock valued at $398,000 after acquiring an additional 1,134 shares in the last quarter. Triasima Portfolio Management inc. increased its position in shares of Alibaba Group by 22.9% in the second quarter. Triasima Portfolio Management inc. now owns 25,450 shares of the specialty retailer’s stock valued at $2,886,000 after acquiring an additional 4,740 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Alibaba Group by 25.3% during the second quarter. Venturi Wealth Management LLC now owns 2,760 shares of the specialty retailer’s stock worth $313,000 after acquiring an additional 558 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Price Performance

NYSE:BABA opened at $181.15 on Thursday. The company has a market cap of $431.88 billion, a P/E ratio of 21.06, a P/E/G ratio of 2.14 and a beta of 0.18. The firm’s fifty day moving average price is $144.47 and its two-hundred day moving average price is $127.08. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Wall Street Analyst Weigh In

BABA has been the subject of a number of analyst reports. Barclays raised their price target on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Susquehanna raised their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research note on Thursday, September 18th. Robert W. Baird upped their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Bank of America lifted their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $184.19.

Check Out Our Latest Report on BABA

Alibaba Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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