Alibaba Group (NYSE:BABA) Trading Up 1.2% - Still a Buy?

Key Points

• Alibaba Group's stock price rose by 1.2% to close at $167.03, despite a 19% decline in trading volume compared to its average.
• Analysts are optimistic about Alibaba, with target prices being raised significantly by various firms; CLSA and Sanford C. Bernstein both set new targets of $200.00.
• Institutional investors have been increasing their stakes in Alibaba, with Temasek Holdings increasing its ownership by 23.4% recently.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price was up 1.2% during trading on Friday . The company traded as high as $169.10 and last traded at $167.03. Approximately 17,456,225 shares traded hands during trading, a decline of 19% from the average daily volume of 21,501,863 shares. The stock had previously closed at $165.09.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on BABA shares. CLSA increased their target price on shares of Alibaba Group from $155.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, October 2nd. Benchmark increased their target price on shares of Alibaba Group from $176.00 to $195.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Robert W. Baird increased their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Sanford C. Bernstein upped their price target on shares of Alibaba Group from $167.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. Finally, Nomura upped their price target 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 investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $188.06.

Alibaba Group Price Performance

The stock has a market cap of $398.21 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 2.22 and a beta of 0.18. The stock's 50 day moving average price is $150.05 and its two-hundred day moving average price is $128.42. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Temasek Holdings Private Ltd increased its stake in shares of Alibaba Group by 23.4% in the first quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer's stock worth $728,633,000 after acquiring an additional 1,045,789 shares during the period. American Century Companies Inc. boosted its holdings in Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer's stock worth $303,215,000 after buying an additional 785,494 shares in the last quarter. Verde Servicos Internacionais S.A. boosted its holdings in Alibaba Group by 6.9% during the second quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer's stock worth $7,686,000 after buying an additional 4,373 shares in the last quarter. Causeway Capital Management LLC boosted its holdings in Alibaba Group by 42.6% during the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer's stock worth $179,305,000 after buying an additional 404,842 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Alibaba Group during the first quarter worth $4,074,000. 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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