Kovitz Investment Group Partners LLC Sells 3,607 Shares of Alibaba Group Holding Limited $BABA

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in Alibaba Group by 39.2%, selling 3,607 shares and holding a total of 5,598 shares valued at $740,000.
• Institutional investors own 13.47% of Alibaba's stock, with Fiduciary Alliance LLC increasing its holdings by 18.3% in the first quarter, now owning 117,943 shares.
• Wall Street analysts have mixed ratings for Alibaba, with a consensus rating of "Moderate Buy" and a target price of $159.67, although Barclays recently lowered its target from $180 to $145.

Kovitz Investment Group Partners LLC cut its holdings in Alibaba Group Holding Limited (NYSE:BABA - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,598 shares of the specialty retailer's stock after selling 3,607 shares during the period. Kovitz Investment Group Partners LLC's holdings in Alibaba Group were worth $740,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. WCM Investment Management LLC bought a new position in Alibaba Group in the 1st quarter valued at $4,074,000. KMG Fiduciary Partners LLC purchased a new position in Alibaba Group in the 1st quarter worth $1,948,000. Avaii Wealth Management LLC purchased a new position in shares of Alibaba Group in the first quarter valued at about $563,000. Fiduciary Alliance LLC increased its position in shares of Alibaba Group by 18.3% in the first quarter. Fiduciary Alliance LLC now owns 117,943 shares of the specialty retailer's stock valued at $15,596,000 after acquiring an additional 18,230 shares during the period. Finally, Independent Advisor Alliance increased its position 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 during the period. 13.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BABA. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research report on Monday, July 21st. Arete Research downgraded shares of Alibaba Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 24th. Barclays dropped their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Loop Capital set a $176.00 price objective on shares of Alibaba Group in a research report on Friday, May 16th. Finally, Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research report on Wednesday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.67.

Alibaba Group Stock Performance

Shares of NYSE:BABA opened at $119.5190 on Thursday. Alibaba Group Holding Limited has a 52 week low of $79.21 and a 52 week high of $148.43. The stock has a market capitalization of $285.03 billion, a P/E ratio of 16.04, a PEG ratio of 1.76 and a beta of 0.17. The firm has a fifty day simple moving average of $116.18 and a two-hundred day simple moving average of $120.73. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.