Avantax Advisory Services Inc. Reduces Stock Holdings in Alibaba Group Holding Limited $BABA

Avantax Advisory Services Inc. cut its position in shares of Alibaba Group Holding Limited (NYSE:BABA) by 11.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,090 shares of the specialty retailer’s stock after selling 2,394 shares during the period. Avantax Advisory Services Inc.’s holdings in Alibaba Group were worth $2,052,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the 1st quarter valued at approximately $26,000. Summit Securities Group LLC grew its position in Alibaba Group by 100.3% in the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 59,000 shares during the period. Ransom Advisory Ltd acquired a new stake in Alibaba Group during the first quarter worth $26,000. 1248 Management LLC purchased a new stake in Alibaba Group in the first quarter valued at $26,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of Alibaba Group in the 2nd quarter valued at $26,000. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Stock Performance

Shares of BABA opened at $153.08 on Friday. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The stock has a market capitalization of $365.26 billion, a PE ratio of 17.80, a PEG ratio of 2.40 and a beta of 0.19. 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 50-day simple moving average of $168.71 and a 200-day simple moving average of $137.72.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BABA. Susquehanna boosted their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. UBS Group reiterated a “buy” rating and set a $162.00 price target on shares of Alibaba Group in a research report on Sunday, August 31st. Jefferies Financial Group upped their price objective on shares of Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, September 29th. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 target price for the company in a report on Wednesday, September 3rd. Finally, Erste Group Bank raised Alibaba Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.18.

Alibaba Group 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.