Alibaba Group (NYSE:BABA) Shares Up 3.1%

Alibaba Group Holding Limited (NYSE:BABA) shares were up 3.1% during trading on Friday . The company traded as high as $109.43 and last traded at $108.29. Approximately 24,881,421 shares traded hands during trading, an increase of 48% from the average daily volume of 16,773,756 shares. The stock had previously closed at $105.07.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Robert W. Baird raised their target price on shares of Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research note on Friday, August 16th. Finally, Susquehanna lowered their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $107.61.

Alibaba Group Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The firm has a fifty day moving average of $82.98 and a two-hundred day moving average of $78.50. The company has a market capitalization of $272.35 billion, a PE ratio of 25.02, a PEG ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last issued its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the business earned $2.47 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

A number of institutional investors have recently modified their holdings of BABA. Primecap Management Co. CA raised its position in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after purchasing an additional 1,074,175 shares during the last quarter. FIL Ltd raised its holdings in shares of Alibaba Group by 10.2% during the fourth quarter. FIL Ltd now owns 10,630,701 shares of the specialty retailer’s stock valued at $823,986,000 after acquiring an additional 983,842 shares in the last quarter. H&H International Investment LLC lifted its stake in Alibaba Group by 63.1% in the fourth quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock worth $384,390,000 after acquiring an additional 1,918,730 shares during the period. ARGA Investment Management LP boosted its holdings in Alibaba Group by 39.2% in the first quarter. ARGA Investment Management LP now owns 3,582,005 shares of the specialty retailer’s stock valued at $259,194,000 after acquiring an additional 1,009,397 shares in the last quarter. Finally, RWWM Inc. boosted its holdings in Alibaba Group by 36.8% in the fourth quarter. RWWM Inc. now owns 3,185,411 shares of the specialty retailer’s stock valued at $246,854,000 after acquiring an additional 857,093 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.