SteelPeak Wealth LLC Acquires New Shares in Alibaba Group Holding Limited $BABA

SteelPeak Wealth LLC purchased a new stake in shares of Alibaba Group Holding Limited (NYSE:BABA) in the second quarter, Holdings Channel.com reports. The firm purchased 7,269 shares of the specialty retailer’s stock, valued at approximately $838,000.

Other hedge funds have also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% during the 1st 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 purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. 1248 Management LLC purchased a new position in shares of Alibaba Group during the 1st quarter valued at $26,000. Finally, Hazlett Burt & Watson Inc. grew its position in shares of Alibaba Group by 1,960.0% during the 1st 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. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BABA. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price target for the company in a research report on Wednesday, September 3rd. Robert W. Baird increased their target price on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Zacks Research raised Alibaba Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 9th. Barclays increased their target price on Alibaba Group from $145.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $160.00 target price on shares of Alibaba Group in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $184.19.

Alibaba Group Stock Down 0.1%

Shares of NYSE:BABA opened at $181.15 on Thursday. The stock’s 50-day moving average price is $144.47 and its 200-day moving average price is $127.08. Alibaba Group Holding Limited has a 12-month low of $80.06 and a 12-month high of $192.67. The stock has a market capitalization of $431.88 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 2.14 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Alibaba Group Company 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.