Oppenheimer & Co. Inc. Grows Holdings in Alibaba Group Holding Limited $BABA

Oppenheimer & Co. Inc. lifted its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 31.4% in the third quarter, HoldingsChannel.com reports. The fund owned 70,578 shares of the specialty retailer’s stock after acquiring an additional 16,871 shares during the period. Oppenheimer & Co. Inc.’s holdings in Alibaba Group were worth $12,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. OPTIMAS CAPITAL Ltd bought a new position in Alibaba Group in the 3rd quarter valued at $19,246,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Alibaba Group by 15.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 68,803 shares of the specialty retailer’s stock worth $12,297,000 after buying an additional 9,334 shares during the last quarter. Cardinal Point Capital Management ULC bought a new position in Alibaba Group during the third quarter valued at about $250,000. RFG Advisory LLC increased its holdings in Alibaba Group by 22.1% during the third quarter. RFG Advisory LLC now owns 3,046 shares of the specialty retailer’s stock worth $544,000 after buying an additional 552 shares during the last quarter. Finally, Palacios Wealth Management LLC bought a new stake in Alibaba Group in the third quarter worth about $376,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Loop Capital set a $140.00 target price on shares of Alibaba Group in a research report on Tuesday, January 6th. Sanford C. Bernstein decreased their target price on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Wall Street Zen lowered Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, January 21st. Finally, Benchmark reissued a “buy” rating and issued a $195.00 price objective on shares of Alibaba Group in a report on Tuesday, November 25th. Eighteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

Alibaba Group Trading Up 0.3%

NYSE:BABA opened at $163.01 on Tuesday. The company has a market cap of $389.17 billion, a P/E ratio of 22.52, a P/E/G ratio of 3.55 and a beta of 0.39. Alibaba Group Holding Limited has a 1 year low of $95.73 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.46 and a quick ratio of 1.46. The stock’s fifty day moving average price is $158.97 and its two-hundred day moving average price is $154.30.

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.