Alibaba Group (NYSE:BABA) Trading Up 4.3% - What's Next?

Key Points

• Alibaba Group's shares increased by 4.3% during mid-day trading, reaching a last traded price of $123.19 after closing at $118.09.
• Wall Street analysts' consensus rating for Alibaba is "Moderate Buy", with a target price of $159.67, despite some analysts downgrading positions recently.
• Institutional investors have altered their stakes in Alibaba, with notable increases from some, resulting in 13.47% of the company's stock being owned by these groups.

Shares of Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) were up 4.3% during mid-day trading on Friday . The company traded as high as $122.81 and last traded at $123.19. Approximately 5,191,838 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 20,945,730 shares. The stock had previously closed at $118.09.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BABA shares. Wall Street Zen cut shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Benchmark reiterated a "buy" rating on shares of Alibaba Group in a research note on Monday, July 21st. Mizuho dropped their target price on shares of Alibaba Group from $170.00 to $160.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Barclays dropped their target price on shares of Alibaba Group from $180.00 to $145.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. Finally, Morgan Stanley set a $180.00 price target on shares of Alibaba Group in a research note on Wednesday, May 14th. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.67.

Alibaba Group Stock Up 4.0%

The stock's fifty day moving average price is $116.21 and its 200 day moving average price is $120.87. The stock has a market cap of $292.98 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 1.76 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.

Hedge Funds Weigh In On Alibaba Group

Institutional investors and hedge funds have recently made changes to their positions in the business. 1248 Management LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $26,000. North Ridge Wealth Advisors Inc. purchased a new stake in Alibaba Group during the 1st quarter valued at $26,000. Summit Securities Group LLC boosted its position in Alibaba Group by 100.3% during the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $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 $26,000. Finally, Hazlett Burt & Watson Inc. boosted its position in Alibaba Group by 1,960.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 206 shares of the specialty retailer's stock valued at $27,000 after buying an additional 196 shares during the period. Institutional investors 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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