Alibaba Group (NYSE:BABA) Shares Up 4.3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 4.3% on Monday . The company traded as high as $126.80 and last traded at $124.73. 52,592,862 shares traded hands during trading, an increase of 142% from the average session volume of 21,722,708 shares. The stock had previously closed at $119.54.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a research note on Friday, November 15th. Mizuho increased their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, Robert W. Baird increased their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Alibaba Group presently has an average rating of “Moderate Buy” and an average target price of $116.93.

Alibaba Group Stock Down 1.0 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market cap of $298.36 billion, a P/E ratio of 25.47, a price-to-earnings-growth ratio of 0.53 and a beta of 0.31. The stock’s fifty day moving average is $92.64 and its two-hundred day moving average is $91.88.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rings Capital Management LLC raised its holdings in shares of Alibaba Group by 1.4% in the 4th quarter. Rings Capital Management LLC now owns 7,100 shares of the specialty retailer’s stock valued at $602,000 after acquiring an additional 100 shares in the last quarter. Lindbrook Capital LLC raised its stake in Alibaba Group by 3.7% in the fourth quarter. Lindbrook Capital LLC now owns 2,829 shares of the specialty retailer’s stock valued at $240,000 after purchasing an additional 101 shares in the last quarter. Global Endowment Management LP lifted its position in Alibaba Group by 1.4% during the fourth quarter. Global Endowment Management LP now owns 7,570 shares of the specialty retailer’s stock valued at $642,000 after purchasing an additional 106 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Alibaba Group by 3.6% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 3,134 shares of the specialty retailer’s stock worth $266,000 after buying an additional 108 shares in the last quarter. Finally, TRUE Private Wealth Advisors raised its position in shares of Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock valued at $331,000 after buying an additional 112 shares in the last quarter. Hedge funds and other 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.