Alibaba Group (NYSE:BABA) Shares Up 2.1% - Time to Buy?

Key Points

• Alibaba Group's stock experienced a 2.1% increase, reaching last traded price of $133.64, although trading volume decreased by 59% compared to its average.
• Several analysts have recently set new price targets for Alibaba, with estimates ranging from $165.00 to $187.00, highlighting a consensus rating of "Buy" with an average price target of $163.53.
• Institutional investors have increased their holdings in Alibaba, with Centaurus Financial raising its shares by 4.7% and Infini Capital Management dramatically increasing its stake by over 1,215,800%.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) rose 2.1% during trading on Friday . The company traded as high as $135.35 and last traded at $133.64. Approximately 8,755,456 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 21,204,217 shares. The stock had previously closed at $130.92.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent research reports. Bank of America upped their target price on Alibaba Group from $135.00 to $152.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. UBS Group reiterated a "buy" rating and issued a $162.00 target price on shares of Alibaba Group in a research report on Sunday, August 31st. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price objective on the stock in a research report on Wednesday. Jefferies Financial Group set a $165.00 price objective on Alibaba Group and gave the stock a "buy" rating in a research report on Friday, August 29th. Finally, Loop Capital set a $176.00 price objective on Alibaba Group in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $163.53.

Alibaba Group Trading Up 3.5%

The company has a current ratio of 1.45, a quick ratio of 1.55 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $119.59 and a 200 day simple moving average of $122.09. The firm has a market cap of $323.03 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BABA. Kingstone Capital Partners Texas LLC raised its stake in shares of Alibaba Group by 1,349,768.3% during 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 buying an additional 49,010,087 shares during the period. Norges Bank acquired a new position in shares of Alibaba Group during the 2nd quarter worth approximately $527,243,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alibaba Group by 3,214.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after buying an additional 4,246,564 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alibaba Group by 85.6% during the 1st 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 buying an additional 3,947,460 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer's stock worth $2,069,144,000 after buying an additional 2,885,154 shares during the period. 13.47% of the stock is owned by institutional investors and hedge funds.

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.