Persistent Asset Partners Ltd Takes Position in Alibaba Group Holding Limited $BABA

Persistent Asset Partners Ltd acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the third quarter, Holdings Channel.com reports. The fund acquired 7,000 shares of the specialty retailer’s stock, valued at approximately $1,251,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BABA. NTV Asset Management LLC increased its stake in Alibaba Group by 127.4% in the 3rd quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock worth $2,707,000 after purchasing an additional 8,484 shares during the period. Marex Group plc bought a new position in shares of Alibaba Group in the second quarter worth approximately $17,139,000. Y Intercept Hong Kong Ltd grew its holdings in shares of Alibaba Group by 197.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock worth $3,881,000 after purchasing an additional 22,701 shares during the last quarter. RD Finance Ltd purchased a new position in shares of Alibaba Group in the second quarter worth $3,408,000. Finally, Oriental Harbor Investment Master Fund bought a new stake in Alibaba Group during the 3rd quarter valued at $39,500,000. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Stock Performance

Shares of BABA opened at $154.35 on Friday. Alibaba Group Holding Limited has a 12 month low of $95.73 and a 12 month high of $192.67. The business’s fifty day simple moving average is $159.00 and its two-hundred day simple moving average is $155.98. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The company has a market cap of $368.50 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 3.41 and a beta of 0.39.

Analysts Set New Price Targets

Several brokerages have weighed in on BABA. Wall Street Zen cut shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Erste Group Bank downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, January 21st. Freedom Capital downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Finally, Loop Capital set a $140.00 price target on Alibaba Group in a research report on Tuesday, January 6th. Seventeen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.