Savvy Advisors Inc. Has $707,000 Stake in Alibaba Group Holding Limited $BABA

Savvy Advisors Inc. lifted its position in Alibaba Group Holding Limited (NYSE:BABA) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,233 shares of the specialty retailer’s stock after purchasing an additional 521 shares during the quarter. Savvy Advisors Inc.’s holdings in Alibaba Group were worth $707,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Assetmark Inc. raised its stake in shares of Alibaba Group by 157.7% in the second quarter. Assetmark Inc. now owns 41,478 shares of the specialty retailer’s stock valued at $4,704,000 after purchasing an additional 25,380 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Alibaba Group by 25.9% during the second quarter. Hantz Financial Services Inc. now owns 35,695 shares of the specialty retailer’s stock worth $4,048,000 after acquiring an additional 7,332 shares in the last quarter. Flagship Harbor Advisors LLC raised its stake in Alibaba Group by 6.1% during the second quarter. Flagship Harbor Advisors LLC now owns 19,261 shares of the specialty retailer’s stock worth $2,184,000 after acquiring an additional 1,100 shares in the last quarter. Mizuho Markets Cayman LP acquired a new position in Alibaba Group during the second quarter worth $979,000. Finally, Y Intercept Hong Kong Ltd raised its stake in Alibaba Group by 197.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock worth $3,881,000 after acquiring an additional 22,701 shares in the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BABA shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 3rd. Benchmark increased their price objective on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Nomura increased their target price on Alibaba Group from $170.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Finally, JPMorgan Chase & Co. decreased their target price on Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Price Performance

Shares of BABA stock opened at $170.17 on Friday. The stock’s fifty day moving average is $161.36 and its 200-day moving average is $133.13. 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 market capitalization of $406.04 billion, a PE ratio of 19.79, a PEG ratio of 2.40 and a beta of 0.18. Alibaba Group Holding Limited has a 52 week low of $80.06 and a 52 week high of $192.67.

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.