Alibaba Group (NYSE:BABA) Trading Down 1.8% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) was down 1.8% during trading on Wednesday . The company traded as low as $88.00 and last traded at $88.19. Approximately 3,111,079 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 17,495,900 shares. The stock had previously closed at $89.83.

Analysts Set New Price Targets

Several equities analysts have issued reports on BABA shares. Loop Capital restated a “buy” rating and issued a $115.00 price objective on shares of Alibaba Group in a research note on Thursday, August 29th. Benchmark reaffirmed a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, November 15th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 price target on shares of Alibaba Group in a research note on Friday, August 23rd. Robert W. Baird boosted their price target on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Barclays decreased their price objective on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus price target of $114.07.

Alibaba Group Stock Down 1.1 %

The firm’s 50-day simple moving average is $96.35 and its 200 day simple moving average is $86.21. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $212.31 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 0.42 and a beta of 0.30.

Alibaba Group (NYSE:BABA) last issued its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. The company had revenue of $236.50 billion for the quarter, compared to analyst estimates of $239.45 billion. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. As a group, equities research analysts forecast that Alibaba Group Holding Limited will post 8.44 earnings per share for the current year.

Institutional Trading of Alibaba Group

Several large investors have recently bought and sold shares of BABA. Primecap Management Co. CA boosted its position in shares of Alibaba Group by 5.2% in the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock worth $1,574,711,000 after buying an additional 1,074,175 shares in the last quarter. Sanders Capital LLC raised its position in Alibaba Group by 0.3% during the third quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock worth $1,959,021,000 after acquiring an additional 60,667 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings 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 purchasing an additional 3,448,152 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Alibaba Group by 1,392.6% in 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 last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alibaba Group by 3,180.1% during the 3rd 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 worth $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Institutional investors and hedge funds 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.