Alibaba Group (NYSE:BABA) Trading 1.8% Higher - Time to Buy?

Key Points

• Alibaba Group's shares increased by 1.8%, closing at $125.11 after trading as high as $126.73.
• Analyst ratings show a mix of opinions, with 11 analysts rating it as a Buy and two as Hold, while price targets range from $135.00 to $180.00.
• Institutional investors have been active in modifying their holdings, with significant increases from firms like Northern Trust Corp and Brighton Jones LLC.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded up 1.8% during mid-day trading on Monday . The company traded as high as $126.73 and last traded at $125.11. 6,328,724 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 20,911,326 shares. The stock had previously closed at $122.94.

Analyst Ratings Changes

A number of brokerages have recently commented on BABA. Bank of America cut their price objective on shares of Alibaba Group from $145.00 to $135.00 and set a "buy" rating for the company in a research report on Friday, July 11th. Benchmark restated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Arete cut shares of Alibaba Group from a "buy" rating to a "neutral" rating and set a $153.00 target price on the stock. in a research note on Tuesday, June 24th. Barclays dropped their price target on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Finally, Arete Research downgraded Alibaba Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 24th. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $159.67.

Alibaba Group Stock Up 1.2%

The business's fifty day simple moving average is $116.41 and its 200 day simple moving average is $121.31. The stock has a market cap of $296.70 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.81 and a beta of 0.17. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19.

Institutional Trading of Alibaba Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC raised its holdings in Alibaba Group by 40.4% in the fourth quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock worth $289,000 after purchasing an additional 981 shares during the period. First Trust Advisors LP raised its stake in Alibaba Group by 2.2% during the 4th quarter. First Trust Advisors LP now owns 47,897 shares of the specialty retailer's stock worth $4,061,000 after buying an additional 1,037 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Alibaba Group by 6.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 9,205 shares of the specialty retailer's stock worth $780,000 after acquiring an additional 579 shares in the last quarter. Beacon Pointe Advisors LLC grew its stake in Alibaba Group by 9.7% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,354 shares of the specialty retailer's stock valued at $539,000 after acquiring an additional 561 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Alibaba Group by 48.0% in the fourth quarter. Northern Trust Corp now owns 1,512,959 shares of the specialty retailer's stock worth $128,284,000 after acquiring an additional 490,913 shares in the last quarter. 13.47% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.