Alibaba Group (NYSE:BABA) Stock Price Down 1.3% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $90.01 and last traded at $90.79. Approximately 6,668,636 shares were traded during trading, a decline of 62% from the average daily volume of 17,588,510 shares. The stock had previously closed at $92.00.

Analyst Ratings Changes

BABA has been the topic of several research analyst reports. Macquarie upgraded shares of Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Bank of America boosted their price target on shares of Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Benchmark reiterated a “buy” rating and issued a $118.00 target price on shares of Alibaba Group in a report on Friday, August 16th. Robert W. Baird increased 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, StockNews.com downgraded shares of Alibaba Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $114.53.

Alibaba Group Stock Performance

The company has a market cap of $217.22 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The stock’s fifty day simple moving average is $97.87 and its two-hundred day simple moving average is $85.44.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.47 EPS. Equities research analysts anticipate that Alibaba Group Holding Limited will post 8.51 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently bought and sold shares of BABA. CANADA LIFE ASSURANCE Co boosted its stake in shares of Alibaba Group by 462.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock valued at $12,275,000 after buying an additional 139,134 shares during the last quarter. Generate Investment Management Ltd acquired a new position in Alibaba Group during the 3rd quarter worth $12,656,000. SRN Advisors LLC raised its stake in shares of Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after purchasing an additional 9,663 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of Alibaba Group by 63.9% during the third quarter. Nations Financial Group Inc. IA ADV now owns 28,716 shares of the specialty retailer’s stock worth $3,047,000 after purchasing an additional 11,192 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Alibaba Group by 6.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 822,904 shares of the specialty retailer’s stock valued at $87,327,000 after acquiring an additional 50,000 shares during 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.