Everstar Asset Management LLC Boosts Stock Holdings in Alibaba Group Holding Limited $BABA

by · The Cerbat Gem

Everstar Asset Management LLC grew its position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,858 shares of the specialty retailer’s stock after purchasing an additional 1,075 shares during the period. Alibaba Group comprises about 0.9% of Everstar Asset Management LLC’s portfolio, making the stock its 25th largest position. Everstar Asset Management LLC’s holdings in Alibaba Group were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. VestGen Advisors LLC increased its stake in Alibaba Group by 229.4% in the 2nd quarter. VestGen Advisors LLC now owns 9,983 shares of the specialty retailer’s stock valued at $1,132,000 after buying an additional 6,952 shares during the last quarter. Trustmark Bank Trust Department grew its holdings in shares of Alibaba Group by 174.5% in the second quarter. Trustmark Bank Trust Department now owns 19,386 shares of the specialty retailer’s stock valued at $2,199,000 after acquiring an additional 12,323 shares in the last quarter. Pursue Wealth Partners LLC increased its position in shares of Alibaba Group by 449.4% during the second quarter. Pursue Wealth Partners LLC now owns 16,141 shares of the specialty retailer’s stock valued at $1,831,000 after acquiring an additional 13,203 shares during the last quarter. West Family Investments Inc. increased its position in shares of Alibaba Group by 54.7% during the second quarter. West Family Investments Inc. now owns 10,304 shares of the specialty retailer’s stock valued at $1,169,000 after acquiring an additional 3,645 shares during the last quarter. Finally, Tejara Capital Ltd bought a new stake in Alibaba Group during the second quarter worth $1,644,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BABA shares. Rosenblatt Securities set a $195.00 target price on Alibaba Group in a research report on Wednesday. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective for the company in a report on Wednesday, September 3rd. Barclays lifted their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America increased their target price 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, Sanford C. Bernstein lowered their price target on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $191.89.

Read Our Latest Research Report on BABA

Alibaba Group Stock Performance

NYSE BABA opened at $157.19 on Monday. The firm has a market cap of $375.06 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. 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’s 50 day moving average is $168.30 and its 200-day moving average is $138.89. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67.

About Alibaba Group

(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.

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