Traders Buy Shares of Alibaba Group (BABA) on Weakness

Traders bought shares of Alibaba Group Holding Ltd (NYSE:BABA) on weakness during trading hours on Thursday. $366.70 million flowed into the stock on the tick-up and $323.29 million flowed out of the stock on the tick-down, for a money net flow of $43.41 million into the stock. Of all equities tracked, Alibaba Group had the 14th highest net in-flow for the day. Alibaba Group traded down ($1.02) for the day and closed at $168.38

Several brokerages have commented on BABA. Stifel Nicolaus restated a “buy” rating and issued a $180.00 price target (up previously from $175.00) on shares of Alibaba Group in a research note on Thursday, January 31st. Goldman Sachs Group restated a “buy” rating and issued a $234.00 price target on shares of Alibaba Group in a research note on Monday, November 12th. ValuEngine lowered shares of Alibaba Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 30th. MKM Partners dropped their price target on shares of Alibaba Group from $270.00 to $245.00 and set a “buy” rating on the stock in a research note on Tuesday, November 13th. Finally, Barclays restated an “overweight” rating and issued a $200.00 price target (up previously from $195.00) on shares of Alibaba Group in a research note on Thursday, January 31st. Two investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Alibaba Group has a consensus rating of “Buy” and an average target price of $211.09.

Get Alibaba Group alerts:

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.20. The company has a market cap of $429.48 billion, a P/E ratio of 41.78, a P/E/G ratio of 1.63 and a beta of 2.31.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Wednesday, January 30th. The specialty retailer reported $12.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $10.83. Alibaba Group had a net margin of 19.87% and a return on equity of 12.44%. The business had revenue of $117.28 billion for the quarter, compared to analyst estimates of $118.52 billion. During the same quarter last year, the business earned $1.63 earnings per share. The business’s revenue for the quarter was up 41.3% on a year-over-year basis. Research analysts expect that Alibaba Group Holding Ltd will post 3.65 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of BABA. BlackRock Inc. grew its position in Alibaba Group by 7.4% in the fourth quarter. BlackRock Inc. now owns 67,733,482 shares of the specialty retailer’s stock worth $9,284,230,000 after buying an additional 4,674,615 shares during the last quarter. Federated Investors Inc. PA grew its position in Alibaba Group by 449.8% in the third quarter. Federated Investors Inc. PA now owns 3,691,425 shares of the specialty retailer’s stock worth $608,200,000 after buying an additional 3,020,054 shares during the last quarter. Nordea Investment Management AB acquired a new position in Alibaba Group in the third quarter worth approximately $490,205,000. Canada Pension Plan Investment Board grew its position in Alibaba Group by 60.6% in the third quarter. Canada Pension Plan Investment Board now owns 6,051,568 shares of the specialty retailer’s stock worth $997,056,000 after buying an additional 2,282,727 shares during the last quarter. Finally, Coatue Management LLC grew its position in Alibaba Group by 70.5% in the fourth quarter. Coatue Management LLC now owns 5,348,736 shares of the specialty retailer’s stock worth $733,151,000 after buying an additional 2,212,159 shares during the last quarter. Hedge funds and other institutional investors own 38.77% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Traders Buy Shares of Alibaba Group (BABA) on Weakness” was first posted by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/4152426/traders-buy-shares-of-alibaba-group-baba-on-weakness.html.

Alibaba Group Company Profile (NYSE:BABA)

Alibaba Group Holding Limited, through its subsidiaries, operates as an online and mobile commerce company in the People's Republic of China and internationally. The company operates in four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

See Also: Correction