1,000 Shares in Alibaba Group Holding Limited $BABA Purchased by Orion Capital Management LLC

Orion Capital Management LLC acquired a new position in shares of Alibaba Group Holding Limited (NYSE:BABA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,000 shares of the specialty retailer’s stock, valued at approximately $113,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. acquired a new stake in shares of Alibaba Group in the first quarter worth $26,000. Summit Securities Group LLC boosted its stake in shares of Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new position in Alibaba Group in the first quarter valued at about $26,000. 1248 Management LLC bought a new stake in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in Alibaba Group in the second quarter worth approximately $26,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Up 1.5%

Shares of BABA opened at $174.49 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average price of $155.80 and a two-hundred day moving average price of $130.74. The stock has a market cap of $416.00 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.33 and a beta of 0.18. Alibaba Group Holding Limited has a 12 month low of $80.06 and a 12 month high of $192.67.

Analysts Set New Price Targets

Several research analysts have recently commented on BABA shares. Benchmark increased their price target on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. CLSA lifted their price target on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Robert W. Baird boosted their price objective on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, Bank of America lifted their price target on Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report 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 given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.18.

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.