Alibaba Group (NYSE:BABA) Shares Up 3.7% - Time to Buy?

Key Points

• Alibaba Group's share price rose by 3.7% during mid-day trading on Tuesday, reaching as high as $148.00 before closing at $146.41.
• Brokerages have reacted positively, with several raising their price targets; Robert W. Baird set a target of $153.00, while Morgan Stanley set theirs at $180.00.
• Institutional investors are increasingly investing in Alibaba, with significant moves such as Kingstone Capital Partners increasing their shares by 1,349,768.3% in the last quarter.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price shot up 3.7% during mid-day trading on Tuesday . The company traded as high as $148.00 and last traded at $146.41. 16,733,359 shares were traded during mid-day trading, a decline of 21% from the average session volume of 21,227,842 shares. The stock had previously closed at $141.20.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BABA. Robert W. Baird increased their target price on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. Morgan Stanley set a $180.00 target price on shares of Alibaba Group in a report on Wednesday, May 14th. Arete Research raised shares of Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Loop Capital set a $176.00 target price on shares of Alibaba Group in a research note on Friday, May 16th. Finally, Mizuho lifted their price target on shares of Alibaba Group from $149.00 to $159.00 and gave the company an "outperform" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $166.53.

Alibaba Group Price Performance

The company's 50-day moving average price is $120.14 and its two-hundred day moving average price is $121.97. The company has a market cap of $349.62 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.89 and a beta of 0.11. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BABA. Kingstone Capital Partners Texas LLC grew its position in Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer's stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares during the last quarter. Norges Bank bought a new position in Alibaba Group in the 2nd quarter worth about $527,243,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alibaba Group by 3,214.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock valued at $578,992,000 after acquiring an additional 4,246,564 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer's stock worth $1,131,558,000 after purchasing an additional 3,947,460 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. Institutional investors own 13.47% of the company's stock.

Alibaba Group Company 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.

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