Alibaba Group (NYSE:BABA) Trading 5.7% Higher

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price shot up 5.7% on Monday . The stock traded as high as $84.73 and last traded at $84.58. 13,895,127 shares traded hands during trading, a decline of 21% from the average session volume of 17,609,170 shares. The stock had previously closed at $80.04.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BABA shares. Benchmark reaffirmed a "buy" rating and set a $118.00 price target on shares of Alibaba Group in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price objective on shares of Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 9th. Citigroup reduced their target price on shares of Alibaba Group from $126.00 to $124.00 and set a "buy" rating on the stock in a research report on Wednesday, April 10th. Truist Financial dropped their price target on shares of Alibaba Group from $114.00 to $113.00 and set a "buy" rating on the stock in a research note on Tuesday, May 7th. Finally, Mizuho reissued a "buy" rating and issued a $95.00 price objective on shares of Alibaba Group in a research report on Wednesday, March 27th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $112.49.

Alibaba Group Price Performance

The stock has a market capitalization of $214.65 billion, a P/E ratio of 15.61 and a beta of 0.44. The company has a 50 day moving average of $73.90 and a 200-day moving average of $75.06. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12.

Institutional Investors Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its holdings in shares of Alibaba Group by 13.8% during the third quarter. Morgan Stanley now owns 11,610,078 shares of the specialty retailer's stock valued at $1,007,058,000 after acquiring an additional 1,406,491 shares during the period. Sanders Capital LLC boosted its stake in Alibaba Group by 322.7% during the 3rd quarter. Sanders Capital LLC now owns 15,029,238 shares of the specialty retailer's stock valued at $1,303,636,000 after purchasing an additional 11,473,618 shares during the period. Russell Investments Group Ltd. grew its position in Alibaba Group by 2.2% in the 4th quarter. Russell Investments Group Ltd. now owns 992,784 shares of the specialty retailer's stock worth $76,951,000 after purchasing an additional 21,228 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Alibaba Group by 299.9% in the fourth quarter. Cerity Partners LLC now owns 82,888 shares of the specialty retailer's stock valued at $6,428,000 after purchasing an additional 62,163 shares during the period. Finally, Certuity LLC raised its holdings in shares of Alibaba Group by 122.2% during the third quarter. Certuity LLC now owns 113,704 shares of the specialty retailer's stock valued at $9,863,000 after buying an additional 62,543 shares during the last quarter. Institutional investors and hedge funds 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.

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.