Alibaba Group Holding Limited (NYSE:BABA – Get Free Report)’s stock price was up 4.7% on Monday. The company traded as high as $111.40 and last traded at $110.8420. 9,868,695 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 11,686,384 shares. The stock had previously closed at $105.85.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Alibaba Group from $164.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 21st. Barclays raised their target price on shares of Alibaba Group from $195.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Nomura lowered their target price on shares of Alibaba Group from $207.00 to $178.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Weiss Ratings raised Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday. Finally, Benchmark restated a “buy” rating on shares of Alibaba Group in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $186.33.
Get Our Latest Research Report on BABA
Alibaba Group Trading Down 1.4%
Alibaba Group (NYSE:BABA – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The specialty retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.68). The firm had revenue of $39.64 billion for the quarter, compared to the consensus estimate of $39.52 billion. Alibaba Group had a net margin of 7.00% and a return on equity of 4.79%. Alibaba Group’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $14.75 EPS. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 5.8 earnings per share for the current year.
Insider Transactions at Alibaba Group
In related news, CFO Hong Xu sold 103,046 shares of the stock in a transaction on Friday, September 25th. The stock was sold at an average price of $13.68, for a total transaction of $1,409,669.28. Following the sale, the chief financial officer directly owned 406,450 shares of the company’s stock, valued at $5,560,236. This trade represents a 20.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Fang Jiang sold 885,272 shares of Alibaba Group stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $13.55, for a total value of $11,995,435.60. Following the completion of the sale, the insider owned 4,679,097 shares of the company’s stock, valued at $63,401,764.35. The trade was a 15.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 999,971 shares of company stock valued at $13,563,304. Insiders own 12.50% of the company’s stock.
Institutional Trading of Alibaba Group
A number of large investors have recently made changes to their positions in BABA. Hoey Investments Inc. lifted its position in Alibaba Group by 95.2% during the first quarter. Hoey Investments Inc. now owns 205 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 100 shares during the period. Continuum Advisory LLC bought a new stake in Alibaba Group in the 2nd quarter worth approximately $28,000. SJS Investment Consulting Inc. raised its stake in Alibaba Group by 15,000.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 302 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 300 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Alibaba Group during the 1st quarter valued at $56,000. Finally, Key Financial Inc lifted its holdings in shares of Alibaba Group by 76.4% during the 1st quarter. Key Financial Inc now owns 478 shares of the specialty retailer’s stock valued at $60,000 after buying an additional 207 shares during the period. 13.47% of the stock is currently owned by institutional investors.
About Alibaba Group
Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem connecting consumers, merchants, brands and businesses through online marketplaces and related services.
The company’s China commerce businesses include Taobao and Tmall, while its international commerce operations include Alibaba.com, AliExpress, Lazada and Trendyol. Alibaba also provides logistics services through Cainiao, consumer services through platforms such as Ele.me and Freshippo, and digital media and entertainment offerings.
Alibaba Cloud provides cloud computing, data management, artificial intelligence and other technology services to businesses and organizations.
Featured Stories
- Five stocks we like better than Alibaba Group
- RPM International’s Dividend King Status Just Got Stronger
- The AI Boom’s Next Big Winners May Wear Hard Hats
- Rivian Escapes the EV Graveyard—But Can It Stay Alive?
- Allient’s Data Center and Defense Momentum Is Raising the Stakes
Receive News & Ratings for Alibaba Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alibaba Group and related companies with MarketBeat.com's FREE daily email newsletter.