Alibaba Group (NYSE:BABA) Trading Down 2.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded down 2.1% on Friday . The stock traded as low as $131.40 and last traded at $132.75. 5,566,554 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 19,043,919 shares. The stock had previously closed at $135.63.

Analyst Ratings Changes

Several research analysts have commented on BABA shares. JPMorgan Chase & Co. boosted their price target on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Arete Research upgraded shares of Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 21st. Bank of America lifted their price target on Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Robert W. Baird increased their price objective on Alibaba Group from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alibaba Group has an average rating of “Buy” and an average price target of $148.14.

Alibaba Group Price Performance

The company’s 50-day simple moving average is $121.60 and its 200-day simple moving average is $102.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market capitalization of $314.80 billion, a PE ratio of 19.15, a P/E/G ratio of 0.61 and a beta of 0.28.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The company had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. As a group, sell-side analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently bought and sold shares of BABA. Appaloosa LP lifted its stake in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after acquiring an additional 1,843,158 shares during the period. Hhlr Advisors LTD. lifted its position in Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares during the period. Norges Bank purchased a new stake in Alibaba Group in the 4th quarter valued at approximately $585,479,000. Bank of America Corp DE increased its position in Alibaba Group by 7.0% during the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock worth $566,124,000 after purchasing an additional 438,537 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer’s stock worth $431,906,000 after buying an additional 78,757 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.