Alibaba Group (NYSE:BABA) Shares Down 0.4% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares fell 0.4% during trading on Tuesday . The company traded as low as $84.86 and last traded at $85.22. 3,493,930 shares were traded during trading, a decline of 80% from the average session volume of 17,621,527 shares. The stock had previously closed at $85.58.

Analysts Set New Price Targets

BABA has been the topic of a number of research reports. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Wednesday, November 20th. Truist Financial decreased their price objective on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Loop Capital reiterated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $114.07.

Alibaba Group Stock Down 0.1 %

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $98.46 and a 200-day simple moving average of $85.97. The company has a market cap of $204.58 billion, a PE ratio of 17.29, a P/E/G ratio of 0.41 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of BABA. TRUE Private Wealth Advisors lifted its holdings in shares of Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after acquiring an additional 112 shares during the last quarter. Venturi Wealth Management LLC raised its position in Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock valued at $228,000 after purchasing an additional 121 shares in the last quarter. ICA Group Wealth Management LLC increased its stake in shares of Alibaba Group by 14.6% during the second quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock worth $72,000 after buying an additional 128 shares during the period. Cornerstone Wealth Management LLC lifted its stake in Alibaba Group by 4.3% in the third quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock worth $361,000 after acquiring an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in Alibaba Group by 3.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other 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.