Alibaba Group Holding Limited (NYSE:BABA) Sees Significant Decline in Short Interest

Alibaba Group Holding Limited (NYSE:BABAGet Free Report) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 44,030,000 shares, a decrease of 7.3% from the February 29th total of 47,520,000 shares. Based on an average daily volume of 19,150,000 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.8% of the company’s stock are short sold.

Institutional Trading of Alibaba Group

A number of large investors have recently made changes to their positions in BABA. Fairfield Bush & CO. bought a new position in Alibaba Group during the 1st quarter valued at about $53,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Alibaba Group during the 1st quarter valued at about $2,452,000. Dakota Wealth Management bought a new position in Alibaba Group during the 1st quarter valued at about $390,000. Sequoia Financial Advisors LLC grew its holdings in Alibaba Group by 11.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 7,342 shares of the specialty retailer’s stock valued at $799,000 after purchasing an additional 743 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its holdings in Alibaba Group by 46.0% during the 1st quarter. Zions Bancorporation N.A. now owns 7,816 shares of the specialty retailer’s stock valued at $850,000 after purchasing an additional 2,464 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on BABA. Macquarie downgraded shares of Alibaba Group from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $88.50 to $85.40 in a research report on Thursday, February 8th. Robert W. Baird cut their price objective on shares of Alibaba Group from $95.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Thursday, February 8th. Mizuho reaffirmed a “buy” rating and set a $95.00 price target on shares of Alibaba Group in a report on Wednesday, March 27th. Finally, Benchmark dropped their price target on shares of Alibaba Group from $150.00 to $128.00 and set a “buy” rating on the stock in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $115.44.

Read Our Latest Analysis on BABA

Alibaba Group Stock Performance

Alibaba Group stock opened at $72.92 on Wednesday. The company’s 50-day moving average price is $73.69 and its 200-day moving average price is $77.20. Alibaba Group has a twelve month low of $66.63 and a twelve month high of $103.24. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.12. The company has a market cap of $185.03 billion, a PE ratio of 13.45 and a beta of 0.47.

Alibaba Group (NYSE:BABAGet Free Report) last posted its earnings results on Wednesday, February 7th. The specialty retailer reported $18.97 earnings per share for the quarter, missing analysts’ consensus estimates of $19.12 by ($0.15). Alibaba Group had a return on equity of 12.65% and a net margin of 10.75%. The business had revenue of $260.35 billion during the quarter, compared to the consensus estimate of $260.26 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts forecast that Alibaba Group will post 7.97 EPS for the current fiscal year.

Alibaba Group Company Profile

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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.

Further Reading

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