Alibaba Group Holding Limited $BABA Holdings Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its stake in Alibaba Group Holding Limited (NYSE:BABA) by 15.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,803 shares of the specialty retailer’s stock after acquiring an additional 9,334 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Alibaba Group were worth $12,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cardinal Point Capital Management ULC bought a new position in Alibaba Group during the 3rd quarter valued at $250,000. RFG Advisory LLC boosted its stake in Alibaba Group by 22.1% during the third quarter. RFG Advisory LLC now owns 3,046 shares of the specialty retailer’s stock valued at $544,000 after buying an additional 552 shares in the last quarter. Palacios Wealth Management LLC acquired a new position in Alibaba Group during the third quarter worth about $376,000. Smartleaf Asset Management LLC raised its position in Alibaba Group by 121.3% in the third quarter. Smartleaf Asset Management LLC now owns 759 shares of the specialty retailer’s stock worth $137,000 after acquiring an additional 416 shares in the last quarter. Finally, Arkfeld Wealth Strategies L.L.C. acquired a new stake in Alibaba Group in the 3rd quarter valued at about $255,000. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

Shares of BABA opened at $163.01 on Tuesday. The company has a market capitalization of $389.17 billion, a PE ratio of 22.52, a PEG ratio of 3.55 and a beta of 0.39. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company’s 50 day moving average price is $158.97 and its 200 day moving average price is $154.30. Alibaba Group Holding Limited has a 52 week low of $95.73 and a 52 week high of $192.67.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BABA. Jefferies Financial Group dropped their target price on shares of Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Loop Capital set a $140.00 price objective on Alibaba Group in a research report on Tuesday, January 6th. Nomura lifted their target price on Alibaba Group from $193.00 to $237.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Rosenblatt Securities set a $195.00 price target on Alibaba Group in a research report on Wednesday, November 26th. Finally, Benchmark reissued a “buy” rating and issued a $195.00 target price on shares of Alibaba Group in a research report on Tuesday, November 25th. Eighteen research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.17.

Alibaba Group Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.