Alibaba Group (NYSE:BABA) Stock Jumps 1.1% – Still a Buy?

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded up 1.1% during mid-day trading on Friday. The stock traded as high as $109.69 and last traded at $109.2380. 9,501,250 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 11,403,587 shares. The stock had previously closed at $108.07.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays raised their price objective on Alibaba Group from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. HSBC set a $170.00 target price on Alibaba Group in a report on Thursday, July 9th. Piper Sandler lowered shares of Alibaba Group to a “hold” rating in a research report on Thursday, October 8th. Robert W. Baird decreased their price target on shares of Alibaba Group from $164.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 21st. Finally, Jefferies Financial Group restated a “buy” rating and set a $192.00 price target on shares of Alibaba Group in a report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $182.89.

Alibaba Group Stock Performance

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $271.76 billion, a PE ratio of 26.45, a PEG ratio of 1.37 and a beta of 0.44. The firm’s fifty day moving average price is $108.42 and its 200 day moving average price is $125.31.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, August 14th. The specialty retailer reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.94 by ($0.68). The firm had revenue of $39.64 billion for the quarter, compared to analysts’ expectations of $39.52 billion. Alibaba Group had a return on equity of 4.79% and a net margin of 7.00%. Alibaba Group’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $14.75 earnings per share. On average, research analysts anticipate that Alibaba Group Holding Limited will post 5.76 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Joseph Tsai bought 720,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $14.29 per share, with a total value of $10,288,800.00. Following the transaction, the director directly owned 114,979,168 shares in the company, valued at approximately $1,643,052,310.72. This trade represents a 0.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Fang Jiang sold 885,272 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $13.55, for a total value of $11,995,435.60. Following the sale, the insider directly owned 4,679,097 shares of the company’s stock, valued at $63,401,764.35. This trade represents a 15.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 999,971 shares of company stock worth $13,563,304. Insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BABA. AMF Tjanstepension AB grew its position in Alibaba Group by 4.1% in the first quarter. AMF Tjanstepension AB now owns 2,206,634 shares of the specialty retailer’s stock worth $276,844,000 after acquiring an additional 86,613 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Alibaba Group by 6.7% during the 2nd quarter. Baird Financial Group Inc. now owns 754,749 shares of the specialty retailer’s stock worth $72,441,000 after purchasing an additional 47,358 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Alibaba Group by 63.5% during the 1st quarter. Sei Investments Co. now owns 573,409 shares of the specialty retailer’s stock valued at $71,940,000 after purchasing an additional 222,666 shares in the last quarter. Candriam S.C.A. raised its holdings in shares of Alibaba Group by 104.6% during the 1st quarter. Candriam S.C.A. now owns 564,818 shares of the specialty retailer’s stock valued at $70,862,000 after purchasing an additional 288,738 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Alibaba Group by 19.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 534,794 shares of the specialty retailer’s stock valued at $67,095,000 after purchasing an additional 86,484 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates digital platforms that connect consumers, merchants, businesses and other participants in commerce.

Its businesses include China-focused marketplaces such as Taobao and Tmall, international platforms including AliExpress and Alibaba.com, and Alibaba Cloud, which provides cloud computing and related technology services. The group also has operations in areas such as logistics, local services and digital media.

Alibaba serves customers and businesses in China and across international markets.