Alibaba Group (NYSE:BABA) Trading 3.1% Higher - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price traded up 3.1% during mid-day trading on Thursday . The stock traded as high as $137.66 and last traded at $136.34. 7,997,031 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 19,036,275 shares. The stock had previously closed at $132.24.

Analyst Ratings Changes

Several research firms recently weighed in on BABA. Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Mizuho upped their target price on shares of Alibaba Group from $140.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday. StockNews.com lowered shares of Alibaba Group from a "buy" rating to a "hold" rating in a research note on Wednesday. Sanford C. Bernstein upgraded shares of Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $104.00 to $165.00 in a report on Tuesday, February 25th. Finally, Arete Research upgraded shares of Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $148.14.

Alibaba Group Stock Down 2.3 %

The stock has a market cap of $314.80 billion, a PE ratio of 19.15, a PEG ratio of 0.61 and a beta of 0.28. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day moving average price of $121.60 and a two-hundred day moving average price of $102.58.

Alibaba Group (NYSE:BABA - Get Free Report) last issued its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to analysts' expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. Analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Decker Retirement Planning Inc. purchased a new stake in Alibaba Group during the 4th quarter valued at $31,000. Sierra Ocean LLC purchased a new stake in Alibaba Group during the fourth quarter valued at $32,000. Strategic Investment Solutions Inc. IL lifted its holdings in Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer's stock valued at $46,000 after acquiring an additional 200 shares during the period. Redwood Park Advisors LLC purchased a new position in Alibaba Group in the fourth quarter worth about $52,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Alibaba Group during the 4th quarter valued at about $55,000. 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.