1248 Management LLC Makes New Investment in Alibaba Group Holding Limited $BABA

1248 Management LLC bought a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 193 shares of the specialty retailer’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BABA. North Ridge Wealth Advisors Inc. bought a new position in Alibaba Group during the first quarter worth about $26,000. Summit Securities Group LLC lifted its holdings in shares of Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Alibaba Group in the first quarter valued at about $26,000. Hazlett Burt & Watson Inc. lifted its holdings in shares of Alibaba Group by 1,960.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 196 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new stake in shares of Alibaba Group in the first quarter valued at about $31,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

BABA opened at $155.02 on Friday. The business’s 50-day simple moving average is $123.33 and its 200 day simple moving average is $122.63. The firm has a market capitalization of $369.60 billion, a PE ratio of 18.03, a PEG ratio of 2.17 and a beta of 0.11. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $156.85.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BABA. Wall Street Zen lowered Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Bank of America boosted their price target on Alibaba Group from $135.00 to $152.00 and gave the company a “buy” rating in a report on Tuesday, September 2nd. Mizuho boosted their price target on Alibaba Group from $149.00 to $159.00 and gave the company an “outperform” rating in a report on Tuesday, September 2nd. UBS Group reiterated a “buy” rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $160.00 target price on shares of Alibaba Group in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average price target of $167.40.

Alibaba Group Profile

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.