Alibaba Group Holding Limited $BABA Shares Purchased by Naples Global Advisors LLC

Naples Global Advisors LLC boosted its holdings in Alibaba Group Holding Limited (NYSE:BABA) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,646 shares of the specialty retailer’s stock after buying an additional 1,210 shares during the quarter. Naples Global Advisors LLC’s holdings in Alibaba Group were worth $2,610,000 as of its most recent SEC filing.

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 in the first quarter worth approximately $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 59,000 shares in the last quarter. Ransom Advisory Ltd purchased a new position in Alibaba Group during the 1st quarter worth approximately $26,000. 1248 Management LLC purchased a new position in Alibaba Group during the 1st quarter worth approximately $26,000. Finally, Hazlett Burt & Watson Inc. grew its position in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BABA. Wall Street Zen cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. JPMorgan Chase & Co. lifted their price objective on shares of Alibaba Group from $170.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday. Arete Research upgraded shares of Alibaba Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. Bank of America lifted their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Citigroup reiterated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Alibaba Group presently has a consensus rating of “Buy” and an average target price of $180.75.

Alibaba Group Stock Up 2.2%

BABA stock opened at $182.70 on Thursday. 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 Holding Limited has a 1 year low of $80.06 and a 1 year high of $183.08. The company has a fifty day simple moving average of $137.93 and a 200 day simple moving average of $125.56. The firm has a market cap of $435.57 billion, a PE ratio of 21.24, a PEG ratio of 2.06 and a beta of 0.18.

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.