Investors Buy Alibaba Group (BABA) on Weakness
Investors purchased shares of Alibaba Group Holding Ltd (NYSE:BABA) on weakness during trading hours on Tuesday. $815.13 million flowed into the stock on the tick-up and $637.32 million flowed out of the stock on the tick-down, for a money net flow of $177.81 million into the stock. Of all equities tracked, Alibaba Group had the highest net in-flow for the day. Alibaba Group traded down ($3.55) for the day and closed at $145.98
BABA has been the topic of a number of recent analyst reports. CLSA set a $240.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a report on Monday, September 24th. HSBC initiated coverage on shares of Alibaba Group in a report on Wednesday, September 12th. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of Alibaba Group from a “strong sell” rating to a “hold” rating in a report on Monday, October 8th. ValuEngine upgraded shares of Alibaba Group from a “sell” rating to a “hold” rating in a report on Monday, October 22nd. Finally, Benchmark cut their price target on shares of Alibaba Group from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $214.55.
The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $382.97 billion, a PE ratio of 36.22, a P/E/G ratio of 1.38 and a beta of 2.35.
A number of hedge funds have recently modified their holdings of the stock. Hillhouse Capital Management Ltd. boosted its stake in shares of Alibaba Group by 318.7% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 6,508,438 shares of the specialty retailer’s stock worth $1,207,511,000 after acquiring an additional 4,954,118 shares during the last quarter. Nordea Investment Management AB purchased a new position in shares of Alibaba Group during the 3rd quarter worth $490,205,000. Bank of America Corp DE boosted its stake in shares of Alibaba Group by 32.9% during the 2nd quarter. Bank of America Corp DE now owns 10,608,066 shares of the specialty retailer’s stock worth $1,968,114,000 after acquiring an additional 2,626,882 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Alibaba Group by 60.6% during the 3rd quarter. Canada Pension Plan Investment Board now owns 6,051,568 shares of the specialty retailer’s stock worth $997,056,000 after acquiring an additional 2,282,727 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Alibaba Group by 3.4% during the 2nd quarter. BlackRock Inc. now owns 63,108,387 shares of the specialty retailer’s stock worth $11,708,501,000 after acquiring an additional 2,077,793 shares during the last quarter. Institutional investors own 38.14% of the company’s stock.
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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.
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