Westend Capital Management LLC Acquires 124,590 Shares of Alibaba Group Holding Limited $BABA

Westend Capital Management LLC increased its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 75,054.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 124,756 shares of the specialty retailer’s stock after acquiring an additional 124,590 shares during the quarter. Alibaba Group comprises approximately 6.5% of Westend Capital Management LLC’s investment portfolio, making the stock its 2nd largest holding. Westend Capital Management LLC’s holdings in Alibaba Group were worth $22,298,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC raised its holdings in Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares in the last quarter. Norges Bank purchased a new position in shares of Alibaba Group in the 2nd quarter valued at $527,243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after acquiring an additional 3,947,460 shares in the last quarter. Axiom Investors LLC DE acquired a new stake in Alibaba Group during the 1st quarter worth $276,909,000. Finally, Assenagon Asset Management S.A. purchased a new stake in Alibaba Group in the second quarter valued at $227,567,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Alibaba Group Stock Up 1.5%

Alibaba Group stock opened at $152.28 on Monday. The stock has a 50 day moving average of $160.37 and a two-hundred day moving average of $143.69. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The stock has a market capitalization of $363.35 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.36 and a beta of 0.33. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23.

Analyst Ratings Changes

Several equities analysts have issued reports on BABA shares. Arete lowered Alibaba Group from a “buy” rating to a “neutral” rating and set a $172.00 price objective on the stock. in a report on Tuesday, December 9th. CLSA raised their price target on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Sanford C. Bernstein cut their price target on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Finally, Bank of America raised their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Seventeen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $194.00.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.