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

Alibaba Group Holding Limited (NYSE:BABA) dropped 0.1% on Thursday . The stock traded as low as $135.87 and last traded at $138.92. Approximately 11,929,126 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 31,431,324 shares. The stock had previously closed at $139.08.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BABA shares. Morgan Stanley raised Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $100.00 to $180.00 in a research report on Monday, February 24th. Sanford C. Bernstein upgraded Alibaba Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $104.00 to $165.00 in a research note on Tuesday. Mizuho increased their price objective on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Finally, Barclays increased their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Fifteen analysts have rated the stock with a buy rating, According to MarketBeat.com, Alibaba Group presently has an average rating of “Buy” and an average target price of $144.07.

Alibaba Group Stock Performance

The stock’s 50 day moving average is $100.36 and its 200 day moving average is $94.79. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market cap of $314.70 billion, a price-to-earnings ratio of 19.14, a price-to-earnings-growth ratio of 0.61 and a beta of 0.31.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The firm had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Analysts anticipate that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently modified their holdings of the business. Sanders Capital LLC raised its stake in Alibaba Group by 0.3% in the 3rd quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock worth $1,959,021,000 after purchasing an additional 60,667 shares in the last quarter. Appaloosa LP increased its holdings in shares of Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Hhlr Advisors LTD. raised its position in shares of Alibaba Group by 64.1% in the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after buying an additional 3,448,152 shares in the last quarter. Norges Bank bought a new stake in shares of Alibaba Group in the fourth quarter valued at approximately $585,479,000. Finally, Bank of America Corp DE grew its position in Alibaba Group by 7.0% during the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock worth $566,124,000 after buying an additional 438,537 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

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.