Alibaba Group (NYSE:BABA) Stock Price Down 0.7% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) traded down 0.7% on Wednesday . The company traded as low as $86.18 and last traded at $86.54. 2,658,307 shares changed hands during trading, a decline of 85% from the average session volume of 17,373,336 shares. The stock had previously closed at $87.15.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BABA. Barclays reduced their price target on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, November 19th. Mizuho upped their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Loop Capital reiterated a “buy” rating and set a $115.00 price objective on shares of Alibaba Group in a research report on Thursday, August 29th. Benchmark restated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Finally, StockNews.com downgraded Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $114.07.

Alibaba Group Trading Down 1.2 %

The stock’s 50 day simple moving average is $93.74 and its 200 day simple moving average is $86.50. The firm has a market cap of $205.78 billion, a PE ratio of 17.47, a PEG 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.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $13.19. The business had revenue of $236.50 billion for the quarter, compared to the consensus estimate of $239.45 billion. Alibaba Group had a return on equity of 12.28% and a net margin of 8.98%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.82 earnings per share. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several institutional investors and hedge funds have recently bought and sold shares of BABA. Assenagon Asset Management S.A. boosted its stake in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alibaba Group by 3,180.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in shares of Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after purchasing an additional 3,448,152 shares during the period. FMR LLC grew its stake in shares of Alibaba Group by 454.2% in the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Alibaba Group by 9,205.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after purchasing an additional 1,679,117 shares during the period. 13.47% of the stock is currently owned by institutional investors.

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.