Alibaba Group (NYSE:BABA) Shares Gap Up – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) gapped up prior to trading on Monday . The stock had previously closed at $152.93, but opened at $160.00. Alibaba Group shares last traded at $160.3880, with a volume of 7,478,965 shares trading hands.

Analyst Upgrades and Downgrades

BABA has been the topic of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Alibaba Group in a research note on Wednesday, October 8th. Citigroup reiterated a “buy” rating on shares of Alibaba Group in a report on Wednesday, September 24th. Zacks Research lowered Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Mizuho set a $195.00 price target on Alibaba Group in a research report on Wednesday, October 22nd. Finally, Bank of America increased their price objective on Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Stock Performance

The stock has a market capitalization of $384.47 billion, a price-to-earnings ratio of 18.74, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a 50-day moving average of $168.71 and a 200 day moving average of $137.89.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Temasek Holdings Private Ltd raised its stake in shares of Alibaba Group by 23.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 5,510,348 shares of the specialty retailer’s stock valued at $728,633,000 after purchasing an additional 1,045,789 shares during the period. American Century Companies Inc. boosted its position in shares of Alibaba Group by 52.1% during the first quarter. American Century Companies Inc. now owns 2,293,085 shares of the specialty retailer’s stock worth $303,215,000 after buying an additional 785,494 shares during the period. Verde Servicos Internacionais S.A. grew its holdings in shares of Alibaba Group by 6.9% during the second quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock worth $7,686,000 after buying an additional 4,373 shares in the last quarter. Causeway Capital Management LLC grew its holdings in shares of Alibaba Group by 42.6% during the first quarter. Causeway Capital Management LLC now owns 1,356,010 shares of the specialty retailer’s stock worth $179,305,000 after buying an additional 404,842 shares in the last quarter. Finally, Ninety One UK Ltd acquired a new stake in Alibaba Group in the 2nd quarter valued at approximately $15,318,000. Institutional investors and hedge funds 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.