Alibaba Group (NYSE:BABA) Stock Price Down 0.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s stock price was down 0.1% during mid-day trading on Thursday . The company traded as low as $135.87 and last traded at $138.92. Approximately 11,929,126 shares traded 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BABA shares. StockNews.com raised Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Barclays boosted their price target on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Morgan Stanley upgraded shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $100.00 to $180.00 in a research report on Monday. Finally, Bank of America raised their target price on Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Fifteen analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $144.07.

Alibaba Group Trading Down 1.8 %

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $324.61 billion, a PE ratio of 19.74, a P/E/G ratio of 0.61 and a beta of 0.31. The business’s fifty day moving average price is $98.31 and its 200 day moving average price is $94.13.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The business had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. As a group, analysts expect that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Trading of Alibaba Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanders Capital LLC grew its holdings in Alibaba Group by 0.3% in the third quarter. Sanders Capital LLC now owns 18,460,434 shares of the specialty retailer’s stock valued at $1,959,021,000 after purchasing an additional 60,667 shares during the period. Appaloosa LP grew its stake in shares of Alibaba Group by 18.4% during the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer’s stock valued at $1,004,181,000 after buying an additional 1,843,158 shares during the period. Hhlr Advisors LTD. increased its holdings in shares of Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares during the last quarter. Norges Bank purchased a new position in shares of Alibaba Group in the 4th quarter worth $585,479,000. Finally, Bank of America Corp DE boosted its holdings in Alibaba Group by 7.0% in the fourth quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer’s stock valued at $566,124,000 after acquiring an additional 438,537 shares during 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.