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

BIT Capital GmbH increased 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 Form 13F filing with the SEC. The firm owned 473,427 shares of the specialty retailer’s stock after purchasing an additional 468,677 shares during the quarter. Alibaba Group makes up approximately 2.9% of BIT Capital GmbH’s portfolio, making the stock its 11th largest position. BIT Capital GmbH’s holdings in Alibaba Group were worth $84,616,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Alibaba Group during the 2nd quarter valued at $527,243,000. Alkeon Capital Management LLC acquired a new stake in Alibaba Group during the second quarter valued at $184,291,000. Clear Street LLC purchased a new position in Alibaba Group in the second quarter valued at about $58,503,000. National Bank of Canada FI increased its position in Alibaba Group by 373.5% in the 2nd quarter. National Bank of Canada FI now owns 602,233 shares of the specialty retailer’s stock worth $68,294,000 after purchasing an additional 475,053 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Alibaba Group by 8.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,267,441 shares of the specialty retailer’s stock worth $597,381,000 after purchasing an additional 390,883 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Down 0.9%

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on BABA. Wall Street Zen cut Alibaba Group from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Sanford C. Bernstein dropped their price target on shares of Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a research note on Tuesday, November 25th. Erste Group Bank cut shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Rosenblatt Securities set a $195.00 target price on Alibaba Group in a report on Wednesday, November 26th. Seventeen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $195.17.

About Alibaba Group

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.