Boothe Investment Group Inc. Buys 3,541 Shares of Alibaba Group Holding Limited $BABA

Boothe Investment Group Inc. lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 6.5% during the second quarter, HoldingsChannel reports. The firm owned 57,720 shares of the specialty retailer’s stock after purchasing an additional 3,541 shares during the period. Alibaba Group accounts for about 2.5% of Boothe Investment Group Inc.’s holdings, making the stock its 17th largest position. Boothe Investment Group Inc.’s holdings in Alibaba Group were worth $6,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group during the 1st quarter worth about $26,000. Summit Securities Group LLC grew its holdings in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new position in Alibaba Group during the 1st quarter worth about $26,000. 1248 Management LLC bought a new position in Alibaba Group during the 1st quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in Alibaba Group during the 2nd quarter worth about $26,000. 13.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BABA. Mizuho set a $195.00 target price on shares of Alibaba Group in a report on Wednesday. Nomura increased their price target on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Jefferies Financial Group increased their price target on shares of Alibaba Group from $178.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Finally, Susquehanna increased their price target on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $174.49 on Friday. The firm has a market capitalization of $416.00 billion, a P/E ratio of 20.29, a PEG ratio of 2.30 and a beta of 0.18. 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 company has a 50 day moving average price of $155.80 and a 200 day moving average price of $130.53. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 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.