TrueMark Investments LLC Has $2.27 Million Holdings in Alibaba Group Holding Limited $BABA

Key Points

• TrueMark Investments LLC increased its stake in Alibaba Group by 18.2%, bringing its total holdings to $2.27 million at the end of the second quarter.
• Other institutional investors have also expanded their positions in Alibaba, with various hedge funds lifting their stakes by significant percentages during the same period.
• Analysts have a generally positive outlook on Alibaba, with multiple firms upgrading their ratings and setting higher price targets, reflecting a consensus price target of $188.06.

TrueMark Investments LLC lifted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,978 shares of the specialty retailer's stock after purchasing an additional 3,082 shares during the period. TrueMark Investments LLC's holdings in Alibaba Group were worth $2,266,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BABA. Signature Estate & Investment Advisors LLC boosted its holdings in Alibaba Group by 7.0% in the second quarter. Signature Estate & Investment Advisors LLC now owns 6,532 shares of the specialty retailer's stock valued at $741,000 after acquiring an additional 425 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its stake in shares of Alibaba Group by 0.8% during the second quarter. Bell & Brown Wealth Advisors LLC now owns 39,013 shares of the specialty retailer's stock worth $4,424,000 after buying an additional 297 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in Alibaba Group by 63.7% in the second quarter. Stratos Wealth Partners LTD. now owns 10,063 shares of the specialty retailer's stock valued at $1,141,000 after buying an additional 3,917 shares during the period. Private Trust Co. NA boosted its stake in Alibaba Group by 25.3% in the second quarter. Private Trust Co. NA now owns 4,295 shares of the specialty retailer's stock valued at $487,000 after acquiring an additional 867 shares during the last quarter. Finally, Aubrey Capital Management Ltd grew its holdings in Alibaba Group by 27.3% during the 2nd quarter. Aubrey Capital Management Ltd now owns 85,818 shares of the specialty retailer's stock worth $9,733,000 after acquiring an additional 18,418 shares during the period. 13.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Arete raised Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research note on Wednesday, September 3rd. UBS Group reissued a "buy" rating and set a $162.00 price objective on shares of Alibaba Group in a research note on Sunday, August 31st. JPMorgan Chase & Co. cut their target price on shares of Alibaba Group from $245.00 to $240.00 and set an "overweight" rating on the stock in a report on Thursday, October 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $188.06.

Alibaba Group Price Performance

Shares of NYSE BABA opened at $167.03 on Friday. The company has a fifty day moving average price of $150.98 and a 200 day moving average price of $128.65. The firm has a market cap of $398.21 billion, a PE ratio of 19.42, a PEG ratio of 2.23 and a beta of 0.18. 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 $192.67.

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.

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