Rakuten Securities Inc. Has $941,000 Holdings in Alibaba Group Holding Limited (NYSE:BABA)

Rakuten Securities Inc. cut its position in Alibaba Group Holding Limited (NYSE:BABA) by 15.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,869 shares of the specialty retailer’s stock after selling 1,618 shares during the period. Rakuten Securities Inc.’s holdings in Alibaba Group were worth $941,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Concord Wealth Partners boosted its stake in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after acquiring an additional 155 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in Alibaba Group during the second quarter worth $27,000. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group in the third quarter valued at $36,000. First Command Advisory Services Inc. bought a new position in shares of Alibaba Group in the second quarter valued at about $25,000. Finally, 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 worth $26,000 after buying an additional 209 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna cut their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research report on Monday, August 19th. Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Sanford C. Bernstein raised their price target on shares of Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Jefferies Financial Group restated a “buy” rating and set a $116.00 target price on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Barclays lifted their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $113.13.

Alibaba Group Stock Up 1.3 %

Shares of NYSE BABA opened at $95.44 on Tuesday. The stock has a 50-day moving average price of $97.49 and a two-hundred day moving average price of $85.28. Alibaba Group Holding Limited has a 12 month low of $66.63 and a 12 month high of $117.82. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $228.58 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.47 earnings per share. As a group, analysts forecast that Alibaba Group Holding Limited will post 8.51 earnings per share for the current fiscal 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.