Oppenheimer Asset Management Inc. Buys 4,455 Shares of Alibaba Group Holding Limited $BABA

Oppenheimer Asset Management Inc. grew its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 8.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,469 shares of the specialty retailer’s stock after purchasing an additional 4,455 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Alibaba Group were worth $6,744,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new position in Alibaba Group during the 1st quarter valued at approximately $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 valued at $26,000 after buying an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in shares of Alibaba Group in the first quarter valued at $26,000. 1248 Management LLC purchased a new position in shares of Alibaba Group in the first quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton purchased a new position in shares of Alibaba Group in the second quarter valued at $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BABA shares. Benchmark lifted their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. dropped their price target on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, October 9th. CLSA lifted their price target on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Jefferies Financial Group lifted their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Finally, Robert W. Baird lifted their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group Stock Up 2.6%

Shares of NYSE:BABA opened at $179.32 on Tuesday. 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 1 year low of $80.06 and a 1 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. The firm has a market capitalization of $427.52 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 2.33 and a beta of 0.18.

About Alibaba Group

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.