Stock traders buy large volume of Alibaba Group call options (NYSE:BABA)

Alibaba Group Holding Limited (NYSE:BABA – Get Rating) was the recipient of unusually heavy options trading activity on Thursday. Stock traders bought 382,430 call options on the company. This represents an increase of approximately 49% over the average volume of 256,330 call options.

Alibaba Group grows 8.1%

Shares of Alibaba Group traded at $7.46 during midday trading Thursday, hitting $99.98. 1,439,790 shares were traded, against an average volume of 23,116,320. Alibaba Group has a 12-month low of $73.28 and a 12-month high of $182.09. The stock has a market capitalization of $264.76 billion, a price-to-earnings ratio of 54.92, a growth price-to-earnings ratio of 1.51 and a beta of 0.58. The company has a 50-day simple moving average of $102.72 and a 200-day simple moving average of $101.91. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt ratio of 0.13.

Alibaba Group (NYSE:BABA – Get Rating) last reported quarterly earnings data on Thursday, August 4. The specialty retailer reported earnings per share of $1.40 for the quarter, beating the consensus estimate of $0.83 by $0.57. The company posted revenue of $30.69 billion for the quarter, versus analyst estimates of $31.15 billion. Alibaba Group had a net margin of 3.69% and a return on equity of 10.03%. Research analysts predict that Alibaba Group will post EPS of 6.32 for the current year.

Analyst upgrades and downgrades

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A number of analysts have weighed in on the stock recently. The benchmark raised its price target on Alibaba Group shares from $200.00 to $205.00 and gave the stock a “buy” rating in a Wednesday July 6 research note. . Barclays cut its price target on Alibaba Group shares from $170.00 to $161.00 and set an “overweight” rating on the stock in a Friday May 27 research note. Goldman Sachs Group raised its price target on Alibaba Group shares from $163.00 to $167.00 in a Monday, July 11 research note. Truist Financial raised its price target on Alibaba Group shares from $132.00 to $145.00 and gave the company a “buy” rating in a Tuesday, May 31 research report. Finally, JPMorgan Chase & Co. raised its price target on Alibaba Group shares from $130.00 to $140.00 and gave the company an “overweight” rating in a Tuesday, July 5 research report. Four analysts rated the stock with a hold rating and twenty gave the company’s stock a buy rating. According to data from MarketBeat.com, the Alibaba Group currently has an average rating of “Moderate Buy” and an average target price of $166.53.

Alibaba Group Institutional Trade

Several large investors have recently changed their BABA holdings. Stock Yards Bank & Trust Co. acquired a new position in Alibaba Group shares in Q2 for a value of approximately $902,000. WCG Wealth Advisors LLC acquired a new position in Alibaba Group shares during Q2 worth $402,000. Captrust Financial Advisors increased its stake in the Alibaba Group by 55.5% during the second quarter. Captrust Financial Advisors now owns 26,254 shares of the specialty retailer valued at $2,985,000 after buying an additional 9,373 shares last quarter. Legal & General Group Plc increased its stake in the Alibaba Group by 18.7% during the second quarter. Legal & General Group Plc now owns 2,146,784 shares of the specialty retailer worth $244,046,000 after acquiring a further 338,888 shares during the period. Finally, ExodusPoint Capital Management LP increased its stake in Alibaba Group shares by 748.2% in Q2. ExodusPoint Capital Management LP now owns 97,019 shares of the specialty retailer worth $11,029,000 after buying an additional 85,581 shares in the last quarter. 17.39% of the shares are currently held by institutional investors and hedge funds.

About Alibaba Group

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Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach for merchants, brands, retailers and other businesses to engage with their users and customers in the People’s Republic of China and internationally. It operates through four segments: Core Commerce, Cloud Computing, Digital Media and Entertainment, and Innovation Initiatives and Others.

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