Alibaba Group Holding Limited $BABA Shares Acquired by Glaxis Capital Management LLC

Glaxis Capital Management LLC increased its position in Alibaba Group Holding Limited (NYSE:BABA) by 400.0% in the 2nd quarter, Holdings Channel reports. The firm owned 10,000 shares of the specialty retailer’s stock after buying an additional 8,000 shares during the period. Alibaba Group makes up 1.5% of Glaxis Capital Management LLC’s holdings, making the stock its 22nd biggest holding. Glaxis Capital Management LLC’s holdings in Alibaba Group were worth $1,134,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. North Ridge Wealth Advisors Inc. acquired a new position in Alibaba Group during the first quarter worth approximately $26,000. Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the last quarter. Ransom Advisory Ltd acquired a new position in shares of Alibaba Group in the 1st quarter valued at $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the 1st quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton acquired a new stake in Alibaba Group during the 2nd quarter worth $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price target on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Jefferies Financial Group increased their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. lowered their target price on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Finally, Benchmark increased their price target on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Stock Down 3.9%

BABA opened at $153.66 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $366.64 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.40 and a beta of 0.19. Alibaba Group Holding Limited has a one year low of $80.06 and a one year high of $192.67. The business’s fifty day moving average is $167.90 and its two-hundred day moving average is $136.53.

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.