Alibaba Group (NYSE:BABA) Shares Down 2%

Shares of Alibaba Group Holding Limited (NYSE:BABA) were down 2% on Thursday . The stock traded as low as $110.80 and last traded at $112.90. Approximately 14,032,409 shares changed hands during trading, a decline of 20% from the average daily volume of 17,464,910 shares. The stock had previously closed at $115.25.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BABA shares. Benchmark restated a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Sanford C. Bernstein upped their target price on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a report on Friday, August 16th. Bank of America upped their target price on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Robert W. Baird upped their target price on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.61.

Alibaba Group Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a fifty day simple moving average of $85.09 and a two-hundred day simple moving average of $79.27. The firm has a market capitalization of $287.70 billion, a P/E ratio of 26.32, a P/E/G ratio of 0.46 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The firm had revenue of $243.24 billion during the quarter, compared to analysts’ expectations of $248.32 billion. During the same quarter last year, the firm posted $2.47 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, research analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new position in shares of Alibaba Group during the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC boosted its position in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Alibaba Group during the second quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in Alibaba Group in the first quarter worth $31,000. Finally, Asset Dedication LLC boosted its position in Alibaba Group by 315.0% in the second quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds 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.