Triasima Portfolio Management inc. Buys 4,740 Shares of Alibaba Group Holding Limited $BABA

Triasima Portfolio Management inc. raised its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 22.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 25,450 shares of the specialty retailer’s stock after acquiring an additional 4,740 shares during the period. Triasima Portfolio Management inc.’s holdings in Alibaba Group were worth $2,886,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of BABA. Venturi Wealth Management LLC increased its position in shares of Alibaba Group by 25.3% during the 2nd quarter. Venturi Wealth Management LLC now owns 2,760 shares of the specialty retailer’s stock valued at $313,000 after purchasing an additional 558 shares during the last quarter. Canopy Partners LLC increased its position in shares of Alibaba Group by 7.0% during the 2nd quarter. Canopy Partners LLC now owns 2,204 shares of the specialty retailer’s stock valued at $250,000 after purchasing an additional 145 shares during the last quarter. Trueblood Wealth Management LLC purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at about $273,000. SteelPeak Wealth LLC purchased a new stake in shares of Alibaba Group during the 2nd quarter valued at about $838,000. Finally, Belpointe Asset Management LLC increased its position in shares of Alibaba Group by 22.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 18,305 shares of the specialty retailer’s stock valued at $2,076,000 after purchasing an additional 3,356 shares during the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 3.2%

BABA stock opened at $181.21 on Wednesday. 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. The company has a market capitalization 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 business has a 50 day simple moving average of $143.19 and a two-hundred day simple moving average of $126.71.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Benchmark increased their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Jefferies Financial Group increased their target price on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Citigroup reissued a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Arete raised shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a report on Wednesday, September 3rd. Finally, Wall Street Zen lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $184.19.

Alibaba Group Company 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.