Readystate Asset Management LP Acquires Shares of 37,095 Alibaba Group Holding Limited $BABA

Readystate Asset Management LP bought a new position in Alibaba Group Holding Limited (NYSE:BABAFree Report) in the third quarter, HoldingsChannel.com reports. The fund bought 37,095 shares of the specialty retailer’s stock, valued at approximately $6,630,000.

Several other hedge funds have also modified their holdings of the stock. Brighton Jones LLC boosted its position in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after buying an additional 981 shares during the last quarter. AQR Capital Management LLC bought a new position in Alibaba Group in the first quarter valued at about $254,000. CWM LLC increased its position in Alibaba Group by 0.8% in the second quarter. CWM LLC now owns 12,029 shares of the specialty retailer’s stock worth $1,364,000 after purchasing an additional 92 shares during the period. Harbour Investments Inc. raised its holdings in Alibaba Group by 5.0% during the 2nd quarter. Harbour Investments Inc. now owns 2,642 shares of the specialty retailer’s stock worth $300,000 after purchasing an additional 127 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in Alibaba Group by 63.7% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 10,063 shares of the specialty retailer’s stock valued at $1,141,000 after purchasing an additional 3,917 shares during the period. 13.47% of the stock is owned by institutional investors.

Alibaba Group Price Performance

BABA opened at $155.45 on Wednesday. The stock has a market cap of $371.12 billion, a P/E ratio of 21.47, a P/E/G ratio of 3.41 and a beta of 0.39. Alibaba Group Holding Limited has a 12 month low of $95.73 and a 12 month high of $192.67. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $159.11 and a 200 day simple moving average of $155.99.

More Alibaba Group News

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BABA shares. Jefferies Financial Group lowered their price target on shares of Alibaba Group from $231.00 to $225.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Benchmark reiterated a “buy” rating and set a $195.00 target price on shares of Alibaba Group in a research report on Tuesday, November 25th. Mizuho set a $195.00 price target on Alibaba Group in a research note on Wednesday, October 22nd. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Wednesday, January 21st. Finally, Loop Capital set a $140.00 price objective on Alibaba Group in a report on Tuesday, January 6th. Eighteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $195.17.

Read Our Latest Analysis on BABA

Alibaba Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alibaba Group (NYSE:BABA)

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