Alibaba Group (NYSE:BABA) Shares Up 3.6% - Time to Buy?

Key Points

• Alibaba Group's stock price increased by 3.6%, reaching a last traded price of $171.88 after closing at $165.86.
• Analysts have varying ratings on Alibaba, with one Strong Buy, seventeen Buy, and one Sell rating; the average target price is set at $190.18.
• Institutional investors hold about 13.47% of Alibaba's stock, with several firms recently increasing their positions in the company.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price shot up 3.6% during mid-day trading on Thursday . The company traded as high as $173.24 and last traded at $171.88. 12,677,567 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 21,386,801 shares. The stock had previously closed at $165.86.

Analyst Ratings Changes

A number of research firms have issued reports on BABA. Benchmark upped their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Robert W. Baird upped their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Arete Research upgraded shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Zacks Research lowered shares of Alibaba Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Finally, Nomura upped their price objective on shares of Alibaba Group from $170.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $190.18.

Alibaba Group Stock Performance

The stock's 50-day moving average is $153.75 and its 200-day moving average is $129.55. The stock has a market cap of $409.77 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 2.23 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19.

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently bought and sold shares of BABA. Traphagen Investment Advisors LLC increased its holdings in shares of Alibaba Group by 2.0% during the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer's stock valued at $539,000 after purchasing an additional 59 shares during the period. Accent Capital Management LLC increased its holdings in shares of Alibaba Group by 5.5% during the first quarter. Accent Capital Management LLC now owns 1,582 shares of the specialty retailer's stock valued at $209,000 after purchasing an additional 82 shares during the period. Cary Street Partners Financial LLC increased its holdings in shares of Alibaba Group by 1.8% during the second quarter. Cary Street Partners Financial LLC now owns 4,757 shares of the specialty retailer's stock valued at $539,000 after purchasing an additional 83 shares during the period. Greenleaf Trust grew its holdings in Alibaba Group by 1.0% during the first quarter. Greenleaf Trust now owns 8,336 shares of the specialty retailer's stock worth $1,102,000 after acquiring an additional 85 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in Alibaba Group by 2.1% during the second quarter. Wedbush Securities Inc. now owns 4,237 shares of the specialty retailer's stock worth $480,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 13.47% of the company's stock.

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.

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