Kovack Advisors Inc. Reduces Position in Alibaba Group Holding Limited (NYSE:BABA)

Kovack Advisors Inc. cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 94.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,934 shares of the specialty retailer's stock after selling 33,079 shares during the quarter. Kovack Advisors Inc.'s holdings in Alibaba Group were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BABA. US Bancorp DE lifted its position in shares of Alibaba Group by 12.2% during the 1st quarter. US Bancorp DE now owns 30,414 shares of the specialty retailer's stock valued at $2,201,000 after acquiring an additional 3,305 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Alibaba Group by 53.2% in the first quarter. Orion Portfolio Solutions LLC now owns 28,517 shares of the specialty retailer's stock valued at $2,063,000 after purchasing an additional 9,899 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Alibaba Group by 9.8% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 185,112 shares of the specialty retailer's stock valued at $13,582,000 after buying an additional 16,553 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Alibaba Group during the 1st quarter worth $312,000. Finally, Jacobi Capital Management LLC boosted its position in shares of Alibaba Group by 62.9% in the 1st quarter. Jacobi Capital Management LLC now owns 5,397 shares of the specialty retailer's stock worth $391,000 after buying an additional 2,084 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho lifted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Truist Financial lowered their target price on Alibaba Group from $110.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, August 16th. Benchmark reissued a "buy" rating and issued a $118.00 price target on shares of Alibaba Group in a report on Friday. Sanford C. Bernstein increased their price objective on Alibaba Group from $80.00 to $85.00 and gave the company a "market perform" rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.53.

Alibaba Group Trading Down 2.2 %

Shares of BABA stock traded down $1.99 on Friday, reaching $88.59. 31,018,266 shares of the stock were exchanged, compared to its average volume of 14,785,027. The stock has a market cap of $212.12 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.39 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $98.18 and a two-hundred day moving average of $85.63. Alibaba Group Holding Limited has a 1-year low of $66.63 and a 1-year high of $117.82.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. During the same period in the previous year, the firm earned $2.47 earnings per share. Alibaba Group's revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

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.