Alibaba Group (NYSE:BABA) Trading Up 3.1% - Here's Why

Key Points

• Alibaba Group's stock increased by 3.1%, trading as high as $140.89, after a previous close of $135.58.
• Several analysts provided positive ratings on BABA, with Citigroup raising their target price to $187.00 and Barclays maintaining an "overweight" rating.
• Institutional investors hold 13.47% of Alibaba's stock, with several recent acquisitions indicating growing interest in the company.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) rose 3.1% during trading on Monday . The company traded as high as $140.89 and last traded at $139.74. Approximately 9,770,111 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 21,195,199 shares. The stock had previously closed at $135.58.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BABA shares. Barclays reissued an "overweight" rating on shares of Alibaba Group in a report on Monday. Citigroup increased their target price on Alibaba Group from $148.00 to $187.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Loop Capital set a $176.00 price target on Alibaba Group in a report on Friday, May 16th. Robert W. Baird lifted their target price on Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Arete Research upgraded Alibaba Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $163.53.

Alibaba Group Stock Up 3.9%

The stock's 50 day moving average is $119.59 and its 200 day moving average is $121.99. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a market cap of $335.74 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 1.89 and a beta of 0.11.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. 1248 Management LLC acquired a new position in shares of Alibaba Group in the 1st quarter valued at approximately $26,000. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC grew its position in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock worth $26,000 after buying an additional 59,000 shares during the period. Ransom Advisory Ltd purchased a new stake in Alibaba Group during the 1st quarter valued at about $26,000. Finally, Hazlett Burt & Watson Inc. lifted its stake in shares of Alibaba Group by 1,960.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock worth $27,000 after purchasing an additional 196 shares during the period. 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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