Alibaba Group (NYSE:BABA) Stock Price Down 2.3% – Time to Sell?

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 2.3% during trading on Tuesday . The stock traded as low as $156.15 and last traded at $157.0230. Approximately 26,940,048 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 20,658,096 shares. The stock had previously closed at $160.73.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Macquarie set a $195.00 price target on Alibaba Group in a research note on Tuesday. Sanford C. Bernstein increased their price objective on shares of Alibaba Group from $167.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Robert W. Baird boosted their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Barclays increased their price target on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Finally, Mizuho set a $195.00 price objective on shares of Alibaba Group in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.44.

Alibaba Group Trading Down 2.3%

The firm has a fifty day moving average of $168.78 and a 200 day moving average of $138.14. The firm has a market capitalization of $374.67 billion, a PE ratio of 18.26, a P/E/G ratio of 2.40 and a beta of 0.19. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.45 and a current ratio of 1.45.

Institutional Investors Weigh In On Alibaba Group

Large investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Alibaba Group by 1,349,768.3% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock worth $5,558,646,000 after buying an additional 49,010,087 shares in the last quarter. Capital World Investors increased its position in shares of Alibaba Group by 1,074.9% during the third quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock worth $1,079,229,000 after acquiring an additional 5,524,354 shares during the last quarter. Norges Bank acquired a new position in shares of Alibaba Group in the second quarter worth about $527,243,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alibaba Group by 85.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock valued at $1,131,558,000 after purchasing an additional 3,947,460 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Alibaba Group by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after purchasing an additional 2,885,154 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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.