Elevation Point Wealth Partners LLC Buys Shares of 1,630 Alibaba Group Holding Limited $BABA

by · The Markets Daily

Elevation Point Wealth Partners LLC acquired a new position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,630 shares of the specialty retailer’s stock, valued at approximately $185,000.

A number of other hedge funds also recently bought and sold shares of BABA. Kingstone Capital Partners Texas LLC lifted its stake in shares of Alibaba Group by 1,349,768.3% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Alibaba Group by 0.7% during the second quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock worth $2,354,877,000 after buying an additional 140,579 shares during the period. Goldman Sachs Group Inc. grew its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alibaba Group by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock valued at $1,136,554,000 after buying an additional 2,584,480 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Price Performance

BABA stock opened at $157.19 on Monday. The business has a 50 day moving average price of $168.30 and a 200 day moving average price of $138.89. Alibaba Group Holding Limited has a fifty-two week low of $80.06 and a fifty-two week high of $192.67. 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 stock has a market cap of $375.06 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.40 and a beta of 0.19.

Analyst Ratings Changes

Several research firms recently commented on BABA. Macquarie reaffirmed an “outperform” rating on shares of Alibaba Group in a report on Tuesday, November 25th. UBS Group restated a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Nomura raised their price objective on Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Arete Research raised shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Citigroup boosted their price target on shares of Alibaba Group from $218.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $191.89.

View Our Latest Stock Report on Alibaba Group

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.

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