Alibaba Group (NYSE:BABA) Stock Price Down 0.5% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 0.5% on Thursday . The company traded as low as $84.42 and last traded at $84.60. 3,216,317 shares changed hands during trading, a decline of 81% from the average session volume of 17,348,654 shares. The stock had previously closed at $85.00.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BABA shares. Bank of America increased their target price on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Barclays cut their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, November 19th. Benchmark reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Mizuho lifted 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. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $90.00 price target on shares of Alibaba Group in a report on Friday, August 23rd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $196.63 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 0.44 and a beta of 0.30. The company’s fifty day moving average is $92.23 and its 200-day moving average is $86.50.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating 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 company had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same period last year, the firm earned $1.82 earnings per share. Alibaba Group’s revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of large investors have recently made changes to their positions in the stock. Concord Wealth Partners grew its position in 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 during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Alibaba Group during the second quarter worth about $27,000. Highline Wealth Partners LLC acquired a new stake in Alibaba Group in the 3rd quarter worth about $36,000. First Command Advisory Services Inc. acquired a new position in shares of Alibaba Group during the second quarter valued at approximately $25,000. Finally, Assetmark Inc. increased its position in shares of Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after purchasing an additional 275 shares in the last quarter. 13.47% of the stock is 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.