Global X Management Co. LLC boosted its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 10.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,214 shares of the specialty retailer’s stock after buying an additional 3,229 shares during the period. Global X Management Co. LLC’s holdings in Alibaba Group Holding Limited were worth $4,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BABA. Lee Financial Co boosted its position in shares of Alibaba Group Holding Limited by 45.5% in the second quarter. Lee Financial Co now owns 800 shares of the specialty retailer’s stock worth $113,000 after buying an additional 250 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Alibaba Group Holding Limited by 9.4% in the second quarter. Carroll Financial Associates Inc. now owns 930 shares of the specialty retailer’s stock worth $131,000 after buying an additional 80 shares in the last quarter. West Oak Capital LLC boosted its position in shares of Alibaba Group Holding Limited by 81.0% in the second quarter. West Oak Capital LLC now owns 950 shares of the specialty retailer’s stock worth $134,000 after buying an additional 425 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of Alibaba Group Holding Limited during the first quarter worth $107,000. Finally, Webster Bank N. A. boosted its position in shares of Alibaba Group Holding Limited by 25.0% in the first quarter. Webster Bank N. A. now owns 1,175 shares of the specialty retailer’s stock worth $127,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 36.75% of the company’s stock.

Alibaba Group Holding Limited (BABA) opened at 151.70 on Friday. The company’s 50-day moving average price is $149.81 and its 200-day moving average price is $122.49. Alibaba Group Holding Limited has a 52 week low of $86.01 and a 52 week high of $160.39. The company has a market capitalization of $383.80 billion, a P/E ratio of 60.03 and a beta of 2.64.

Alibaba Group Holding Limited (NYSE:BABA) last issued its earnings results on Thursday, May 18th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.01. Alibaba Group Holding Limited had a return on equity of 15.40% and a net margin of 27.51%. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.26 billion. During the same period in the previous year, the company posted $0.47 earnings per share. On average, equities analysts forecast that Alibaba Group Holding Limited will post $4.64 EPS for the current fiscal year.

Alibaba Group Holding Limited declared that its Board of Directors has initiated a share buyback program on Thursday, May 18th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the specialty retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION NOTICE: “Alibaba Group Holding Limited (NYSE:BABA) Shares Bought by Global X Management Co. LLC” was originally published by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.watchlistnews.com/alibaba-group-holding-limited-nysebaba-shares-bought-by-global-x-management-co-llc/1477278.html.

A number of analysts recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and set a $139.00 price objective on shares of Alibaba Group Holding Limited in a research report on Friday, June 9th. BidaskClub upgraded Alibaba Group Holding Limited from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Benchmark Co. lifted their price objective on Alibaba Group Holding Limited from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, June 12th. Needham & Company LLC lifted their price objective on Alibaba Group Holding Limited from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, June 8th. Finally, Robert W. Baird lifted their price objective on Alibaba Group Holding Limited from $135.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $142.21.

Alibaba Group Holding Limited Company Profile

Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.

Want to see what other hedge funds are holding BABA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alibaba Group Holding Limited (NYSE:BABA).

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

Receive News & Ratings for Alibaba Group Holding Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group Holding Limited and related companies with Analyst Ratings Network's FREE daily email newsletter.