Alibaba Group (NYSE:BABA) Trading Down 2.3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares were down 2.3% during mid-day trading on Monday . The company traded as low as $85.34 and last traded at $85.39. Approximately 5,621,846 shares changed hands during trading, a decline of 68% from the average daily volume of 17,534,895 shares. The stock had previously closed at $87.37.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Truist Financial dropped their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Susquehanna reduced their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Bank of America raised their target price on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Loop Capital restated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Alibaba Group presently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Stock Down 1.8 %

The firm has a fifty day moving average of $98.45 and a 200 day moving average of $86.11. The stock has a market cap of $205.34 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.43 and a beta of 0.35. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter in the previous year, the firm earned $1.82 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently modified their holdings of BABA. First Command Advisory Services Inc. purchased a new position in Alibaba Group in the 2nd quarter valued at $25,000. GPS Wealth Strategies Group LLC grew its holdings in Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Alibaba Group in the second quarter valued at $27,000. Concord Wealth Partners boosted its position in shares of Alibaba Group by 155.0% during the 3rd quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares in the last quarter. Finally, Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group during the 3rd quarter worth $36,000. 13.47% of the stock is owned by institutional investors and hedge funds.

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.