Baker Avenue Asset Management LP lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 50.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,914 shares of the specialty retailer’s stock after acquiring an additional 5,989 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Alibaba Group Holding Limited were worth $2,524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in BABA. UBS Asset Management Americas Inc. raised its holdings in Alibaba Group Holding Limited by 14.2% in the first quarter. UBS Asset Management Americas Inc. now owns 11,607,556 shares of the specialty retailer’s stock worth $1,251,643,000 after purchasing an additional 1,440,476 shares in the last quarter. Gabelli Funds LLC bought a new position in Alibaba Group Holding Limited in the first quarter worth $1,186,000. State of Wisconsin Investment Board bought a new position in Alibaba Group Holding Limited in the first quarter worth $484,000. Lyell Wealth Management LP raised its holdings in Alibaba Group Holding Limited by 5.0% in the first quarter. Lyell Wealth Management LP now owns 31,077 shares of the specialty retailer’s stock worth $3,351,000 after purchasing an additional 1,485 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings in Alibaba Group Holding Limited by 10.2% in the first quarter. Essex Financial Services Inc. now owns 12,921 shares of the specialty retailer’s stock worth $1,393,000 after purchasing an additional 1,195 shares in the last quarter. Institutional investors own 37.38% of the company’s stock.

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Alibaba Group Holding Limited (NYSE:BABA) traded up 0.42% on Friday, hitting $178.14. The stock had a trading volume of 12,749,689 shares. The stock has a market cap of $453.01 billion, a P/E ratio of 59.12 and a beta of 2.62. Alibaba Group Holding Limited has a 12 month low of $86.01 and a 12 month high of $180.87. The company’s 50 day moving average is $166.56 and its 200-day moving average is $135.68.

Alibaba Group Holding Limited (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 17th. The specialty retailer reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.21. The company had revenue of $7.40 billion for the quarter, compared to the consensus estimate of $7.16 billion. Alibaba Group Holding Limited had a return on equity of 16.85% and a net margin of 28.77%. During the same quarter in the prior year, the business posted $0.74 earnings per share. Analysts forecast that Alibaba Group Holding Limited will post $5.01 EPS for the current year.

A number of research firms have issued reports on BABA. Cantor Fitzgerald began coverage on Alibaba Group Holding Limited in a report on Friday. They issued an “overweight” rating and a $213.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Alibaba Group Holding Limited in a report on Thursday. Vetr downgraded Alibaba Group Holding Limited from a “strong-buy” rating to a “buy” rating and set a $193.24 price objective for the company. in a report on Tuesday, September 12th. Deutsche Bank AG decreased their price objective on Alibaba Group Holding Limited to $199.00 and set a “buy” rating for the company in a report on Thursday, September 7th. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $193.00 price objective on shares of Alibaba Group Holding Limited in a report on Thursday, September 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $171.37.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Institutional Ownership by Quarter for Alibaba Group Holding Limited (NYSE:BABA)

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