Alibaba Group Holding Limited $BABA Stock Position Reduced by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in Alibaba Group Holding Limited by 28.7%, now owning 39,528 shares valued at approximately $5.2 million as of its latest SEC filing.
• Several hedge funds made moves in their BABA positions during Q1, with North Ridge Wealth Advisors and others acquiring new shares, indicating ongoing interest from institutional investors.
• BABA has a current market cap of $296.55 billion and a consensus rating of "Moderate Buy" among analysts, with an average price target of $159.67.

Kestra Advisory Services LLC trimmed its holdings in shares of Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,528 shares of the specialty retailer's stock after selling 15,905 shares during the period. Kestra Advisory Services LLC's holdings in Alibaba Group were worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer's stock valued at $1,136,554,000 after purchasing an additional 2,584,480 shares in the last quarter. Bank of America Corp DE increased its position in shares of Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock worth $566,124,000 after purchasing an additional 438,537 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock valued at $390,885,000 after acquiring an additional 752,275 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after acquiring an additional 4,246,564 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Trading Up 13.1%

BABA traded up $15.66 during trading on Friday, hitting $135.23. 73,735,999 shares of the company's stock were exchanged, compared to its average volume of 21,108,168. Alibaba Group Holding Limited has a 1 year low of $80.06 and a 1 year high of $148.43. The firm has a market cap of $322.49 billion, a P/E ratio of 18.13, a price-to-earnings-growth ratio of 1.80 and a beta of 0.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $117.06 and a 200 day moving average price of $121.53.

Analyst Ratings Changes

A number of brokerages recently commented on BABA. Bank of America lowered their target price on Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a report on Friday, July 11th. Loop Capital set a $176.00 price target on Alibaba Group in a research note on Friday, May 16th. Wall Street Zen lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Barclays decreased their price target on Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $159.67.

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.