Alibaba Group (NYSE:BABA) Upgraded to Hold at Argus

Argus upgraded shares of Alibaba Group (NYSE:BABAFree Report) to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also commented on the company. Wall Street Zen lowered Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Macquarie Infrastructure reaffirmed an “outperform” rating on shares of Alibaba Group in a research report on Tuesday, November 25th. Weiss Ratings lowered shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. Jefferies Financial Group lowered their price target on shares of Alibaba Group from $225.00 to $212.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Finally, Robert W. Baird dropped their price objective on shares of Alibaba Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Sixteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alibaba Group has an average rating of “Moderate Buy” and an average price target of $188.95.

View Our Latest Stock Analysis on Alibaba Group

Alibaba Group Trading Down 0.4%

BABA opened at $125.55 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.22. Alibaba Group has a 52 week low of $95.73 and a 52 week high of $192.67. The stock has a market cap of $299.75 billion, a PE ratio of 23.69, a PEG ratio of 2.87 and a beta of 0.43. The business has a 50 day moving average of $152.36 and a 200-day moving average of $158.51.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. grew its position in Alibaba Group by 7,680.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,014,147 shares of the specialty retailer’s stock valued at $881,554,000 after purchasing an additional 5,936,847 shares during the last quarter. Capital World Investors increased its stake in Alibaba Group by 1,074.9% during 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 purchasing an additional 5,524,354 shares in the last quarter. Norges Bank purchased a new position in Alibaba Group in the second quarter worth about $527,243,000. Alkeon Capital Management LLC purchased a new position in Alibaba Group in the second quarter worth about $184,291,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Alibaba Group in the third quarter worth approximately $290,208,000. 13.47% of the stock is currently owned by institutional investors.

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About Alibaba Group

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Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.

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