Alibaba Group (NYSE:BABA) Shares Down 1.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 1.7% during trading on Wednesday . The stock traded as low as $98.60 and last traded at $98.71. Approximately 4,271,673 shares changed hands during trading, a decline of 76% from the average daily volume of 17,842,508 shares. The stock had previously closed at $100.46.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BABA shares. JPMorgan Chase & Co. upped their price target on shares of Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Susquehanna dropped their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Barclays upped their price objective on shares of Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price target on shares of Alibaba Group in a research report on Friday, July 26th. Finally, Benchmark reissued a “buy” rating and set a $118.00 target price on shares of Alibaba Group in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.63.

Alibaba Group Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock has a fifty day simple moving average of $93.09 and a 200-day simple moving average of $82.71. The stock has a market cap of $248.70 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. During the same quarter in the previous year, the firm posted $2.47 EPS. The business’s revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the 2nd quarter worth about $25,000. GPS Wealth Strategies Group LLC increased its position in shares of Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group during the 2nd quarter worth $27,000. Register Financial Advisors LLC acquired a new position in Alibaba Group in the first quarter valued at about $31,000. Finally, Asset Dedication LLC increased its holdings in shares of Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company’s stock.

About Alibaba Group

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.