Alibaba Group (NYSE:BABA) Shares Down 0% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) were down 0% on Wednesday . The company traded as low as $84.42 and last traded at $85.35. Approximately 3,854,345 shares changed hands during trading, a decline of 67% from the average daily volume of 11,774,022 shares. The stock had previously closed at $85.38.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BABA shares. Benchmark reissued a “buy” rating and issued a $118.00 price target on shares of Alibaba Group in a research report on Friday, November 15th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective for the company in a research note on Monday, October 7th. Barclays lowered their target price on Alibaba Group from $137.00 to $130.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 19th. Robert W. Baird increased their price target on Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho boosted their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Alibaba Group Stock Performance

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $205.42 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.45 and a beta of 0.30. The stock’s 50 day moving average is $85.73 and its 200 day moving average is $88.01.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Friday, November 15th. The specialty retailer reported $15.06 earnings per share 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 period last year, the company posted $1.82 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Trading of Alibaba Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Generate Investment Management Ltd acquired a new stake in shares of Alibaba Group during the third quarter worth $12,656,000. 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 in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Alibaba Group by 6.5% during the third 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Alibaba Group by 7,734.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 269,805 shares of the specialty retailer’s stock valued at $28,632,000 after purchasing an additional 266,361 shares during the last quarter. Finally, Aspex Management HK Ltd acquired a new stake in shares of Alibaba Group during the third quarter worth approximately $115,995,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

About Alibaba Group

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.