Alibaba Group (NYSE:BABA) Trading Down 0.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price traded down 0.7% on Thursday . The company traded as low as $125.50 and last traded at $128.86. 15,771,811 shares changed hands during trading, a decline of 19% from the average session volume of 19,421,783 shares. The stock had previously closed at $129.79.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Mizuho upped their price target on Alibaba Group from $140.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, March 28th. Citigroup lifted their price objective on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on shares of Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Benchmark boosted their price target on shares of Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $148.14.

Alibaba Group Trading Down 0.3 %

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 stock has a market cap of $307.45 billion, a P/E ratio of 18.71, a P/E/G ratio of 0.61 and a beta of 0.24. The stock has a 50-day moving average price of $124.35 and a 200-day moving average price of $103.55.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The company had revenue of $38.38 billion during the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, equities research analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans bought a new position in Alibaba Group during the third quarter valued at approximately $321,000. The Manufacturers Life Insurance Company bought a new stake in Alibaba Group in the third quarter worth $287,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alibaba Group by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,347 shares of the specialty retailer’s stock valued at $1,523,000 after buying an additional 390 shares during the period. Benjamin Edwards Inc. bought a new position in shares of Alibaba Group during the third quarter valued at about $508,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Alibaba Group by 83.1% in the third quarter. Janus Henderson Group PLC now owns 1,081,188 shares of the specialty retailer’s stock worth $114,757,000 after buying an additional 490,694 shares during the period. 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.