Canopy Partners LLC increased its position in Alibaba Group Holding Limited (NYSE:BABA – Free Report) by 7.0% in the second quarter, Holdings Channel.com reports. The fund owned 2,204 shares of the specialty retailer’s stock after purchasing an additional 145 shares during the period. Canopy Partners LLC’s holdings in Alibaba Group were worth $250,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Accent Capital Management LLC raised its holdings in Alibaba Group by 5.5% in the 1st quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer’s stock worth $209,000 after acquiring an additional 82 shares during the last quarter. Greenleaf Trust increased its stake in shares of Alibaba Group by 1.0% in the 1st quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer’s stock worth $1,102,000 after purchasing an additional 85 shares in the last quarter. Principal Securities Inc. boosted its holdings in Alibaba Group by 0.5% in the 1st quarter. Principal Securities Inc. now owns 16,823 shares of the specialty retailer’s stock worth $2,225,000 after buying an additional 89 shares during the period. Institute for Wealth Management LLC. boosted its holdings in Alibaba Group by 1.1% in the 1st quarter. Institute for Wealth Management LLC. now owns 8,578 shares of the specialty retailer’s stock worth $1,134,000 after buying an additional 93 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Alibaba Group by 1.0% in the 2nd quarter. Fifth Third Bancorp now owns 9,779 shares of the specialty retailer’s stock worth $1,109,000 after buying an additional 94 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.
Alibaba Group Stock Performance
BABA opened at $181.21 on Wednesday. The firm has a market capitalization of $432.02 billion, a PE ratio of 21.07, a PEG ratio of 2.21 and a beta of 0.18. Alibaba Group Holding Limited has a twelve month low of $80.06 and a twelve month high of $192.67. The firm’s 50-day moving average price is $143.19 and its 200 day moving average price is $126.71. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Alibaba Group
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.
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