Traders Buy Alibaba Group (BABA) on Weakness
Investors bought shares of Alibaba Group Holding Limited (NYSE:BABA) on weakness during trading on Monday. $1,600.40 million flowed into the stock on the tick-up and $1,438.94 million flowed out of the stock on the tick-down, for a money net flow of $161.46 million into the stock. Of all companies tracked, Alibaba Group had the 5th highest net in-flow for the day. Alibaba Group traded down ($5.03) for the day and closed at $169.58
A number of brokerages have recently commented on BABA. Susquehanna Bancshares began coverage on shares of Alibaba Group in a report on Wednesday. They issued a “positive” rating and a $220.00 price target on the stock. Needham & Company LLC increased their price target on shares of Alibaba Group from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, August 18th. Vetr lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating and set a $175.06 price target on the stock. in a report on Wednesday, August 16th. Royal Bank Of Canada increased their target price on shares of Alibaba Group from $160.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 18th. Finally, Bank of America increased their target price on shares of Alibaba Group from $180.00 to $193.00 and gave the company a “buy” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $185.14.
The stock has a market capitalization of $434,256.47, a PE ratio of 49.29, a PEG ratio of 1.28 and a beta of 2.52. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.21.
A number of hedge funds and other institutional investors have recently modified their holdings of BABA. FMR LLC lifted its position in Alibaba Group by 42.5% during the 2nd quarter. FMR LLC now owns 25,278,081 shares of the specialty retailer’s stock valued at $3,561,681,000 after acquiring an additional 7,544,165 shares during the period. Third Point LLC bought a new stake in Alibaba Group during the 2nd quarter valued at about $634,050,000. Hillhouse Capital Management Ltd. increased its stake in Alibaba Group by 38,449.4% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 3,570,449 shares of the specialty retailer’s stock valued at $503,076,000 after purchasing an additional 3,561,187 shares in the last quarter. Boussard & Gavaudan Investment Management LLP increased its stake in Alibaba Group by 37.1% during the 3rd quarter. Boussard & Gavaudan Investment Management LLP now owns 11,598,897 shares of the specialty retailer’s stock valued at $1,986,697,000 after purchasing an additional 3,141,790 shares in the last quarter. Finally, Egerton Capital UK LLP bought a new stake in Alibaba Group during the 3rd quarter valued at about $507,041,000. 38.13% of the stock is owned by institutional investors.
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Alibaba Group Company Profile
Alibaba Group Holding Limited is a holding company. Through its subsidiaries, the Company is engaged in online and mobile commerce through offering of products, services and technology that enable merchants, brands and other businesses to transform the way they market, sell and operate in the People’s Republic of China (China) and internationally.
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