Alibaba Group (NYSE:BABA) Stock Price Down 0.1% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares traded down 0.1% during mid-day trading on Wednesday . The stock traded as low as $91.47 and last traded at $91.71. 4,049,221 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 17,598,031 shares. The stock had previously closed at $91.78.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Susquehanna lowered their target price on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating for the company in a research note on Monday, August 19th. Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Barclays boosted their target price on Alibaba Group from $107.00 to $137.00 and gave the company an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Mizuho increased their target price on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average price is $97.87 and its two-hundred day moving average price is $85.44. The firm has a market capitalization of $216.84 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company had revenue of $243.24 billion for the quarter, compared to analysts’ expectations of $248.32 billion. During the same period last year, the firm earned $2.47 earnings per share. Alibaba Group’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Institutional Trading of Alibaba Group

Several institutional investors have recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co increased its holdings in shares of Alibaba Group by 462.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after purchasing an additional 139,134 shares during the period. Generate Investment Management Ltd acquired a new position in Alibaba Group in the 3rd quarter valued at $12,656,000. SRN Advisors LLC raised its position in Alibaba Group by 76.7% during the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock worth $1,611,000 after buying an additional 9,663 shares during the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in shares of Alibaba Group by 63.9% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after acquiring an additional 11,192 shares during the period. Finally, Handelsbanken Fonder AB increased its stake in shares of Alibaba Group by 6.5% during the third quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock worth $87,327,000 after acquiring an additional 50,000 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.