Triasima Portfolio Management inc. Raises Stock Holdings in Alibaba Group Holding Limited $BABA

Key Points

• Triasima Portfolio Management Inc. raised its holdings in Alibaba Group by 22.9% in Q2, now owning 25,450 shares valued at approximately $2.89 million.
• Several hedge funds, including Brighton Jones LLC and GAMMA Investing LLC, also increased their stakes in Alibaba, indicating growing institutional interest.
• Wall Street analysts are optimistic about Alibaba, with analyst ratings showing 1 Strong Buy, 16 Buy, and an average target price of $184.19.

Triasima Portfolio Management inc. increased its position in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,450 shares of the specialty retailer's stock after buying an additional 4,740 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Alibaba Group were worth $2,886,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BABA. Brighton Jones LLC increased its position in Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after purchasing an additional 981 shares during the period. GAMMA Investing LLC increased its position in Alibaba Group by 13,483.0% during the 1st quarter. GAMMA Investing LLC now owns 19,967 shares of the specialty retailer's stock valued at $2,640,000 after purchasing an additional 19,820 shares during the period. UMB Bank n.a. increased its position in Alibaba Group by 33.4% during the 1st quarter. UMB Bank n.a. now owns 1,207 shares of the specialty retailer's stock valued at $160,000 after purchasing an additional 302 shares during the period. Portside Wealth Group LLC increased its position in Alibaba Group by 17.2% during the 1st quarter. Portside Wealth Group LLC now owns 3,522 shares of the specialty retailer's stock valued at $466,000 after purchasing an additional 518 shares during the period. Finally, CHICAGO TRUST Co NA purchased a new position in Alibaba Group during the 1st quarter valued at $321,000. 13.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BABA. Sanford C. Bernstein reissued an "outperform" rating and set a $160.00 price objective on shares of Alibaba Group in a research report on Saturday, August 30th. UBS Group restated a "buy" rating and set a $162.00 target price on shares of Alibaba Group in a report on Sunday, August 31st. Zacks Research upgraded shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Robert W. Baird boosted their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, Bank of America boosted their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $184.19.

Alibaba Group Stock Performance

Shares of Alibaba Group stock opened at $181.21 on Wednesday. The stock has a market cap of $432.02 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.21 and a beta of 0.18. The firm's 50-day moving average is $143.19 and its 200 day moving average is $126.71. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

About Alibaba Group

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.

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