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

Alibaba Group Holding Limited (NYSE:BABA) shares gapped up before the market opened on Thursday . The stock had previously closed at $157.91, but opened at $163.83. Alibaba Group shares last traded at $161.7080, with a volume of 4,168,732 shares changing hands.

Wall Street Analyst Weigh In

BABA has been the topic of several research analyst reports. Susquehanna lifted their target price on shares of Alibaba Group from $175.00 to $190.00 and gave the company a “positive” rating in a research report on Thursday, September 18th. Arete Research upgraded Alibaba Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 3rd. Zacks Research cut Alibaba Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Citigroup reaffirmed a “buy” rating on shares of Alibaba Group in a research note on Wednesday, September 24th. 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 research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Trading Down 3.9%

The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $366.64 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.40 and a beta of 0.19. The company’s 50-day moving average is $167.90 and its 200-day moving average is $136.53.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC lifted its stake in Alibaba Group by 1,349,768.3% during the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after purchasing an additional 49,010,087 shares in the last quarter. Capital World Investors raised its holdings in shares of Alibaba Group by 1,074.9% in the 3rd quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock valued at $1,079,229,000 after buying an additional 5,524,354 shares during the period. Norges Bank acquired a new position in Alibaba Group during the 2nd quarter worth about $527,243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alibaba Group by 85.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after acquiring an additional 3,947,460 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Alibaba Group by 22.6% during the first quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock worth $2,069,144,000 after purchasing an additional 2,885,154 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.