HBK Sorce Advisory LLC Has $421,000 Holdings in Alibaba Group Holding Limited $BABA

HBK Sorce Advisory LLC cut its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA) by 12.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,715 shares of the specialty retailer’s stock after selling 508 shares during the period. HBK Sorce Advisory LLC’s holdings in Alibaba Group were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. raised its position in shares of Alibaba Group by 25.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 35,695 shares of the specialty retailer’s stock valued at $4,048,000 after acquiring an additional 7,332 shares during the period. Flagship Harbor Advisors LLC raised its position in shares of Alibaba Group by 6.1% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 19,261 shares of the specialty retailer’s stock valued at $2,184,000 after acquiring an additional 1,100 shares during the period. Mizuho Markets Cayman LP acquired a new stake in shares of Alibaba Group in the 2nd quarter valued at approximately $979,000. Y Intercept Hong Kong Ltd raised its position in shares of Alibaba Group by 197.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after acquiring an additional 22,701 shares during the period. Finally, Maytree Asset Management Ltd raised its position in shares of Alibaba Group by 96.8% in the 2nd quarter. Maytree Asset Management Ltd now owns 28,467 shares of the specialty retailer’s stock valued at $3,228,000 after acquiring an additional 14,000 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reiterated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Sanford C. Bernstein increased their target price on Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Nomura increased their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Barclays increased their target price on Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.18.

Alibaba Group Price Performance

NYSE BABA opened at $170.17 on Friday. The business has a 50 day simple moving average of $161.36 and a 200 day simple moving average of $133.13. Alibaba Group Holding Limited has a 52-week low of $80.06 and a 52-week high of $192.67. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $406.04 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 2.40 and a beta of 0.18.

About Alibaba Group

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.