Alibaba Group (NYSE:BABA) Trading 6.2% Higher – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price shot up 6.2% during mid-day trading on Friday . The company traded as high as $156.65 and last traded at $155.7030. 15,716,673 shares changed hands during trading, an increase of 124% from the average session volume of 7,001,075 shares. The stock had previously closed at $146.58.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price target on Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price target on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Susquehanna raised their price target on Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a report on Thursday, September 18th. Finally, Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and an average price target of $194.00.

Alibaba Group Trading Up 6.2%

The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $158.22 and a 200-day moving average price of $144.68. The company has a market capitalization of $371.53 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.41 and a beta of 0.37.

Institutional Trading of Alibaba Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock valued at $289,000 after acquiring an additional 981 shares during the last quarter. Axiom Investors LLC DE acquired a new stake in shares of Alibaba Group during the first quarter worth $276,909,000. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Alibaba Group by 50.3% during the first quarter. Focus Partners Advisor Solutions LLC now owns 3,727 shares of the specialty retailer’s stock valued at $493,000 after purchasing an additional 1,248 shares during the last quarter. Amundi boosted its position in shares of Alibaba Group by 29.8% in the 1st quarter. Amundi now owns 838,838 shares of the specialty retailer’s stock valued at $108,487,000 after purchasing an additional 192,780 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in Alibaba Group by 18.0% in the 1st quarter. Advisors Asset Management Inc. now owns 4,941 shares of the specialty retailer’s stock worth $653,000 after purchasing an additional 754 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.