Alibaba Group Holding Limited $BABA Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lessened its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 46.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,826 shares of the specialty retailer’s stock after selling 1,599 shares during the quarter. Kovack Advisors Inc.’s holdings in Alibaba Group were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC grew its position in Alibaba Group by 15.0% during the second quarter. Simon Quick Advisors LLC now owns 6,538 shares of the specialty retailer’s stock valued at $741,000 after buying an additional 854 shares during the period. Savvy Advisors Inc. grew its position in shares of Alibaba Group by 9.1% in the second quarter. Savvy Advisors Inc. now owns 6,233 shares of the specialty retailer’s stock valued at $707,000 after purchasing an additional 521 shares during the period. Assetmark Inc. grew its position in shares of Alibaba Group by 157.7% in the second quarter. Assetmark Inc. now owns 41,478 shares of the specialty retailer’s stock valued at $4,704,000 after purchasing an additional 25,380 shares during the period. Hantz Financial Services Inc. grew its position in shares of Alibaba Group by 25.9% in the second quarter. Hantz Financial Services Inc. now owns 35,695 shares of the specialty retailer’s stock valued at $4,048,000 after purchasing an additional 7,332 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in shares of Alibaba Group by 6.1% in the second quarter. Flagship Harbor Advisors LLC now owns 19,261 shares of the specialty retailer’s stock valued at $2,184,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Stock Performance

BABA opened at $170.17 on Monday. The firm has a market capitalization of $406.04 billion, a PE ratio of 19.79, a PEG ratio of 2.40 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 $161.36 and its 200 day moving average price is $133.46. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Analyst Ratings Changes

Several brokerages have recently issued reports on BABA. Zacks Research lowered shares of Alibaba Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. CLSA lifted their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a research report on Wednesday, September 24th. Finally, Erste Group Bank upgraded shares of Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

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.