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

Alibaba Group Holding Limited (NYSE:BABA) traded down 1.3% on Wednesday . The company traded as low as $82.72 and last traded at $83.42. 4,167,734 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 10,247,902 shares. The stock had previously closed at $84.48.

Analysts Set New Price Targets

BABA has been the subject of several research analyst reports. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Robert W. Baird upped their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Bank of America increased their price target on Alibaba Group from $106.00 to $124.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays dropped their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Alibaba Group currently has an average rating of “Moderate Buy” and a consensus target price of $115.13.

Alibaba Group Trading Down 3.8 %

The firm has a market cap of $191.80 billion, a PE ratio of 16.33, a P/E/G ratio of 0.44 and a beta of 0.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The company has a 50 day simple moving average of $87.59 and a two-hundred day simple moving average of $87.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results 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. The company had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. Alibaba Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.82 EPS. Analysts expect that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TRUE Private Wealth Advisors boosted its stake in Alibaba Group by 3.7% during the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after purchasing an additional 112 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Alibaba Group by 6.0% during the third quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after purchasing an additional 121 shares during the period. ICA Group Wealth Management LLC grew its stake in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC increased its holdings in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after buying an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Alibaba Group by 3.0% in the third quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock valued at $515,000 after acquiring an additional 143 shares during the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.