Alibaba Group (NYSE:BABA) Trading Down 1.3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $84.96 and last traded at $85.29. Approximately 3,221,703 shares changed hands during trading, a decline of 72% from the average daily volume of 11,620,654 shares. The stock had previously closed at $86.40.

Analysts Set New Price Targets

A number of analysts recently issued reports on BABA shares. StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 14th. Barclays dropped their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Robert W. Baird increased their price objective on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Monday, October 7th. Finally, Mizuho upped their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Alibaba Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Price Performance

The firm has a market cap of $212.29 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.37 and a beta of 0.30. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $85.54 and a two-hundred day moving average price of $88.09.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. During the same period in the previous year, the company earned $1.82 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Concord Wealth Partners increased its stake in shares of Alibaba Group by 155.0% in the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock valued at $27,000 after purchasing an additional 155 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group in the second quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group during the 3rd quarter worth approximately $36,000. Decker Retirement Planning Inc. purchased a new position in shares of Alibaba Group during the 4th quarter valued at approximately $31,000. Finally, Assetmark Inc. grew its stake in Alibaba Group by 225.4% in the 3rd quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock valued at $42,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 13.47% of the company’s stock.

Alibaba Group Company Profile

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.