Nkcfo LLC Decreases Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Nkcfo LLC decreased its stake in Alibaba Group Holding Limited (NYSE:BABA) by 50.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,100 shares of the specialty retailer’s stock after selling 1,100 shares during the period. Nkcfo LLC’s holdings in Alibaba Group were worth $79,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Alibaba Group by 139.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares in the last quarter. Register Financial Advisors LLC bought a new position in Alibaba Group in the 1st quarter worth approximately $31,000. Asset Dedication LLC raised its holdings in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock valued at $38,000 after acquiring an additional 400 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in Alibaba Group during the 4th quarter valued at $42,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BABA shares. Robert W. Baird raised their price target on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Truist Financial reduced their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a report on Friday, August 16th. Susquehanna decreased their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Bank of America raised their price objective on shares of Alibaba Group from $103.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein upped their target price on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

Alibaba Group stock opened at $88.31 on Friday. The firm has a fifty day simple moving average of $80.79 and a two-hundred day simple moving average of $77.59. Alibaba Group Holding Limited has a twelve month low of $66.63 and a twelve month high of $90.46. The company has a market capitalization of $224.09 billion, a PE ratio of 20.59, a P/E/G ratio of 0.43 and a beta of 0.33. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The business had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period in the previous year, the firm earned $2.47 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

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.