Alibaba Group (NYSE:BABA) Trading Down 0.6% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 0.6% during mid-day trading on Wednesday . The stock traded as low as $97.68 and last traded at $99.23. 4,273,827 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 17,769,828 shares. The stock had previously closed at $99.83.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Loop Capital restated a “buy” rating and issued a $115.00 price target on shares of Alibaba Group in a research report on Thursday, August 29th. Robert W. Baird lifted their price objective on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a report on Monday, October 7th. Finally, Truist Financial decreased their price target on Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.00.

Alibaba Group Price Performance

The company has a fifty day simple moving average of $95.38 and a two-hundred day simple moving average of $83.80. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 0.46 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating the consensus estimate of $1.87 by $14.57. The company had revenue of $243.24 billion during the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.47 EPS. As a group, research analysts anticipate that Alibaba Group Holding Limited will post 8.08 earnings per share for the current year.

Institutional Trading of Alibaba Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in Alibaba Group by 1.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,399 shares of the specialty retailer’s stock worth $1,548,000 after purchasing an additional 241 shares during the period. Principal Financial Group Inc. boosted its position in Alibaba Group by 93.1% during the 1st quarter. Principal Financial Group Inc. now owns 41,129 shares of the specialty retailer’s stock worth $2,976,000 after purchasing an additional 19,832 shares during the period. Diversify Advisory Services LLC purchased a new stake in Alibaba Group during the 1st quarter worth $262,000. Capstone Investment Advisors LLC boosted its position in Alibaba Group by 19.4% in the 1st quarter. Capstone Investment Advisors LLC now owns 59,486 shares of the specialty retailer’s stock valued at $4,304,000 after buying an additional 9,652 shares during the last quarter. Finally, LB Partners LLC boosted its position in Alibaba Group by 1.3% in the 1st quarter. LB Partners LLC now owns 76,000 shares of the specialty retailer’s stock valued at $5,499,000 after buying an additional 1,000 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors and hedge funds.

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.