Accuvest Global Advisors Has $2.25 Million Stock Holdings in Alibaba Group Holding Ltd (NYSE:BABA)

Accuvest Global Advisors grew its position in shares of Alibaba Group Holding Ltd (NYSE:BABA) by 127.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,276 shares of the specialty retailer’s stock after purchasing an additional 7,439 shares during the quarter. Alibaba Group accounts for 1.3% of Accuvest Global Advisors’ portfolio, making the stock its 17th largest position. Accuvest Global Advisors’ holdings in Alibaba Group were worth $2,250,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. RDA Financial Network bought a new stake in shares of Alibaba Group during the 1st quarter worth $1,341,000. CX Institutional boosted its stake in shares of Alibaba Group by 1,240.0% during the 1st quarter. CX Institutional now owns 268 shares of the specialty retailer’s stock worth $49,000 after acquiring an additional 248 shares in the last quarter. M Holdings Securities Inc. boosted its stake in shares of Alibaba Group by 8.5% during the 1st quarter. M Holdings Securities Inc. now owns 8,790 shares of the specialty retailer’s stock worth $1,604,000 after acquiring an additional 685 shares in the last quarter. Soma Equity Partners LP boosted its stake in shares of Alibaba Group by 6.7% during the 1st quarter. Soma Equity Partners LP now owns 480,000 shares of the specialty retailer’s stock worth $87,576,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA boosted its stake in shares of Alibaba Group by 5.5% during the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 25,166 shares of the specialty retailer’s stock worth $4,592,000 after acquiring an additional 1,320 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

BABA traded up $7.63 during trading on Friday, reaching $174.60. 25,365,500 shares of the stock traded hands, compared to its average volume of 18,912,960. The stock has a market cap of $444.25 billion, a price-to-earnings ratio of 48.64, a price-to-earnings-growth ratio of 1.45 and a beta of 2.30. Alibaba Group Holding Ltd has a fifty-two week low of $129.77 and a fifty-two week high of $195.72. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s 50-day simple moving average is $169.46 and its two-hundred day simple moving average is $172.75.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.32. Alibaba Group had a return on equity of 12.72% and a net margin of 23.17%. The company had revenue of $114.92 billion for the quarter, compared to analyst estimates of $111.65 billion. During the same period last year, the company earned $1.01 earnings per share. The business’s revenue was up 42.0% compared to the same quarter last year. Research analysts anticipate that Alibaba Group Holding Ltd will post 5.04 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on BABA shares. SunTrust Banks reissued a “positive” rating and set a $210.00 price objective (up from $205.00) on shares of Alibaba Group in a research note on Thursday. Mizuho raised their target price on Alibaba Group from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Jefferies Financial Group began coverage on Alibaba Group in a research report on Monday, August 5th. They issued a “buy” rating and a $216.00 target price for the company. Macquarie set a $226.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Finally, Loop Capital began coverage on Alibaba Group in a research report on Monday, June 3rd. They issued a “buy” rating and a $250.00 target price for the company. One equities research analyst has rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Alibaba Group has an average rating of “Buy” and a consensus price target of $218.89.

About Alibaba Group

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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

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