BIT Capital GmbH Has $84.62 Million Stock Position in Alibaba Group Holding Limited $BABA

BIT Capital GmbH boosted its stake in shares of Alibaba Group Holding Limited (NYSE:BABA) by 9,866.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 473,427 shares of the specialty retailer’s stock after purchasing an additional 468,677 shares during the quarter. Alibaba Group accounts for approximately 2.9% of BIT Capital GmbH’s holdings, making the stock its 11th biggest position. BIT Capital GmbH’s holdings in Alibaba Group were worth $84,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Traphagen Investment Advisors LLC raised its position in shares of Alibaba Group by 2.0% during the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after buying an additional 59 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Alibaba Group by 26.4% during the third quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock valued at $54,000 after acquiring an additional 63 shares during the period. Bluesphere Advisors LLC raised its holdings in Alibaba Group by 2.2% in the 3rd quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock valued at $540,000 after acquiring an additional 64 shares in the last quarter. Richardson Financial Services Inc. lifted its position in shares of Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after acquiring an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Alibaba Group by 1.0% during the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock worth $1,191,000 after purchasing an additional 66 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Down 0.9%

Shares of BABA opened at $154.35 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $368.50 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 3.41 and a beta of 0.39. The stock has a fifty day moving average price of $159.00 and a two-hundred day moving average price of $155.98. Alibaba Group Holding Limited has a 52-week low of $95.73 and a 52-week high of $192.67.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BABA. Arete Research upgraded Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Jefferies Financial Group decreased their price target on Alibaba Group from $231.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. Morgan Stanley dropped their price objective on Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, January 8th. Finally, Freedom Capital cut Alibaba Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 6th. Seventeen analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $195.17.

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.