IFP Advisors Inc Sells 2,348 Shares of Alibaba Group Holding Limited $BABA

Key Points

• IFP Advisors Inc has reduced its stake in Alibaba Group by 32.8%, selling 2,348 shares to hold a total of 4,802 shares valued at $545,000.
• Several institutional investors have increased their holdings in Alibaba Group, with Temasek Holdings Private Ltd reporting a 23.4% increase, now owning over 5.5 million shares.
• Analyst ratings for Alibaba Group have improved, with Zacks raising its rating from "strong sell" to "hold", and the stock receiving a consensus target price of $188.06 from analysts.

IFP Advisors Inc reduced its stake in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 32.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,802 shares of the specialty retailer's stock after selling 2,348 shares during the period. IFP Advisors Inc's holdings in Alibaba Group were worth $545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd increased its holdings in Alibaba Group by 23.4% during the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock worth $728,633,000 after purchasing an additional 1,045,789 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Alibaba Group by 52.1% in the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock valued at $303,215,000 after acquiring an additional 785,494 shares in the last quarter. Causeway Capital Management LLC grew its holdings in shares of Alibaba Group by 42.6% in the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock valued at $179,305,000 after acquiring an additional 404,842 shares in the last quarter. WCM Investment Management LLC bought a new position in shares of Alibaba Group in the first quarter valued at approximately $4,074,000. Finally, Independent Advisor Alliance grew its holdings in shares of Alibaba Group by 53.1% in the first quarter. Independent Advisor Alliance now owns 13,043 shares of the specialty retailer's stock valued at $1,725,000 after acquiring an additional 4,521 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

BABA has been the subject of several recent analyst reports. Zacks Research raised Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 9th. Erste Group Bank raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Nomura upped their target price on Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Mizuho upped their target price on Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Alibaba Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $188.06.

Alibaba Group Trading Down 2.3%

NYSE:BABA opened at $162.90 on Wednesday. The company has a market cap of $388.37 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.09 and a beta of 0.18. The stock's fifty day moving average price is $148.27 and its two-hundred day moving average price is $127.93. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $192.67. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

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.

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