Alibaba Group (NYSE:BABA) Stock Price Down 10.6% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) fell 10.6% on Friday . The stock traded as low as $111.30 and last traded at $115.60. 27,686,186 shares traded hands during trading, an increase of 42% from the average session volume of 19,554,347 shares. The stock had previously closed at $129.33.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised shares of Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $100.00 to $180.00 in a report on Monday, February 24th. Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $104.00 to $165.00 in a research note on Tuesday, February 25th. Bank of America upped their target price on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their price target on Alibaba Group from $125.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Citigroup upped their price objective on Alibaba Group from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $148.14.

Alibaba Group Trading Down 9.9 %

The stock has a market capitalization of $276.85 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.61 and a beta of 0.24. 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 stock’s 50 day moving average price is $125.77 and its 200-day moving average price is $104.10.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group during the fourth quarter worth $31,000. Sierra Ocean LLC acquired a new position in Alibaba Group during the 4th quarter valued at about $32,000. Strategic Investment Solutions Inc. IL raised its stake in Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock valued at $46,000 after buying an additional 200 shares during the last quarter. Redwood Park Advisors LLC acquired a new stake in Alibaba Group in the fourth quarter worth about $52,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Alibaba Group during the fourth quarter worth about $55,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.