Alibaba Group (NYSE:BABA) Stock Jumps 1.1% – What’s Next?

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BABA shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $165.00 price objective on shares of Alibaba Group in a report on Monday, September 7th. Piper Sandler cut Alibaba Group to a “hold” rating in a research note on Thursday, October 8th. Barclays raised their target price on shares of Alibaba Group from $195.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 21st. Jefferies Financial Group restated a “buy” rating and set a $192.00 target price on shares of Alibaba Group in a report on Thursday, October 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of Alibaba Group from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.89.

Alibaba Group Stock Up 1.1%

The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $271.76 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 1.42 and a beta of 0.44. The stock’s fifty day moving average price is $108.28 and its 200-day moving average price is $125.04.

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

Insider Activity

In other news, General Counsel Siying Yu sold 6,764 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $13.58, for a total transaction of $91,855.12. Following the completion of the transaction, the general counsel directly owned 613,965 shares in the company, valued at $8,337,644.70. This represents a 1.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Hong Xu sold 103,046 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $13.68, for a total transaction of $1,409,669.28. Following the transaction, the chief financial officer owned 406,450 shares of the company’s stock, valued at approximately $5,560,236. This represents a 20.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 999,971 shares of company stock worth $13,563,304. 12.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Aureus Asset Management LLC grew its holdings in Alibaba Group by 511.0% during the first quarter. Aureus Asset Management LLC now owns 9,361 shares of the specialty retailer’s stock worth $1,174,000 after purchasing an additional 7,829 shares during the period. IPG Investment Advisors LLC increased its position in Alibaba Group by 97.8% during the second quarter. IPG Investment Advisors LLC now owns 17,019 shares of the specialty retailer’s stock worth $1,647,000 after buying an additional 8,415 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in Alibaba Group by 24.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 259,580 shares of the specialty retailer’s stock valued at $32,567,000 after buying an additional 51,000 shares during the period. QV Investors Inc. raised its stake in Alibaba Group by 66.3% in the third quarter. QV Investors Inc. now owns 123,617 shares of the specialty retailer’s stock valued at $13,294,000 after buying an additional 49,270 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Alibaba Group by 54.2% in the first quarter. Jennison Associates LLC now owns 83,627 shares of the specialty retailer’s stock valued at $10,492,000 after buying an additional 29,392 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

About Alibaba Group

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.