Alibaba Group (NYSE:BABA) Shares Up 4.3% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s stock price traded up 4.3% during mid-day trading on Monday . The company traded as high as $126.80 and last traded at $124.73. 52,592,862 shares changed 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, November 15th. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. StockNews.com lowered Alibaba Group from a "buy" rating to a "hold" rating in a research report on Thursday, February 13th. Citigroup boosted their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a "buy" rating in a research report on Friday, January 10th. Finally, Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an "overweight" rating for the company in a research report on Tuesday, November 19th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Alibaba Group presently has an average rating of "Moderate Buy" and a consensus price target of $116.93.

Alibaba Group Stock Performance

The firm has a market capitalization of $323.74 billion, a PE ratio of 27.64, a P/E/G ratio of 0.54 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a fifty day moving average price of $94.31 and a 200 day moving average price of $92.42.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Research analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently bought and sold shares of BABA. AMF Tjanstepension AB lifted its stake in Alibaba Group by 6.9% in the 3rd quarter. AMF Tjanstepension AB now owns 2,789,883 shares of the specialty retailer's stock worth $296,062,000 after acquiring an additional 178,999 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of Alibaba Group by 8.6% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,360 shares of the specialty retailer's stock worth $357,000 after purchasing an additional 266 shares in the last quarter. Raymond James & Associates raised its stake in shares of Alibaba Group by 2.3% during the 3rd quarter. Raymond James & Associates now owns 403,766 shares of the specialty retailer's stock worth $42,848,000 after purchasing an additional 9,020 shares in the last quarter. Signaturefd LLC raised its stake in shares of Alibaba Group by 4.1% during the 3rd quarter. Signaturefd LLC now owns 24,863 shares of the specialty retailer's stock worth $2,638,000 after purchasing an additional 986 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Alibaba Group by 47.1% during the 3rd quarter. Private Advisor Group LLC now owns 100,975 shares of the specialty retailer's stock worth $10,715,000 after purchasing an additional 32,324 shares in the last quarter. 13.47% of the stock is owned by hedge funds and other institutional investors.

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.