Alibaba Group (NYSE:BABA) Trading Down 4.7% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) were down 4.7% on Monday . The stock traded as low as $132.88 and last traded at $133.95. Approximately 12,770,940 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 18,617,866 shares. The stock had previously closed at $140.62.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays raised 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. Mizuho raised their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Alibaba Group from $125.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $100.00 to $180.00 in a report on Monday, February 24th. Finally, Arete Research upgraded Alibaba Group to a “strong-buy” rating in a research note on Friday, February 28th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Buy” and an average target price of $144.07.

Alibaba Group Trading Down 5.8 %

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 1.48. The business’s 50-day simple moving average is $105.46 and its two-hundred day simple moving average is $96.90. The stock has a market capitalization of $314.70 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 0.61 and a beta of 0.28.

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

Institutional Investors Weigh In On Alibaba Group

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Alibaba Group in the fourth quarter valued at approximately $585,479,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Alibaba Group by 3,180.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after purchasing an additional 3,740,150 shares during the period. Hhlr Advisors LTD. grew its holdings in Alibaba Group by 64.1% during the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares in the last quarter. FMR LLC increased its stake in Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after buying an additional 2,959,954 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Alibaba Group by 208.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer’s stock worth $254,000,000 after buying an additional 2,024,640 shares in the last quarter. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.