Alibaba Group (NYSE:BABA) Shares Down 0.4% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA) was down 0.4% during trading on Tuesday . The company traded as low as $84.86 and last traded at $85.22. Approximately 3,493,930 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 17,621,527 shares. The stock had previously closed at $85.58.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Macquarie upgraded Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 price objective on the stock in a research note on Monday, October 7th. Loop Capital restated a “buy” rating and set a $115.00 price target on shares of Alibaba Group in a report on Thursday, August 29th. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. Robert W. Baird upped their target price on Alibaba Group from $88.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho lifted their price target on Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Alibaba Group currently has a consensus rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Price Performance

The firm has a 50 day moving average price of $98.51 and a two-hundred day moving average price of $86.01. The company has a market cap of $207.21 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.42 and a beta of 0.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last posted its earnings results on Friday, November 15th. The specialty retailer reported $15.06 earnings per share for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The firm had revenue of $236.50 billion during the quarter, compared to the consensus estimate of $239.45 billion. During the same quarter last year, the company earned $1.82 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, analysts predict that Alibaba Group Holding Limited will post 8.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. TRUE Private Wealth Advisors lifted its position in Alibaba Group by 3.7% in the 3rd quarter. TRUE Private Wealth Advisors now owns 3,123 shares of the specialty retailer’s stock worth $331,000 after buying an additional 112 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Alibaba Group by 6.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,152 shares of the specialty retailer’s stock worth $228,000 after acquiring an additional 121 shares during the last quarter. ICA Group Wealth Management LLC boosted its stake in shares of Alibaba Group by 14.6% in the 2nd quarter. ICA Group Wealth Management LLC now owns 1,004 shares of the specialty retailer’s stock valued at $72,000 after purchasing an additional 128 shares in the last quarter. Cornerstone Wealth Management LLC grew its holdings in shares of Alibaba Group by 4.3% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 3,400 shares of the specialty retailer’s stock valued at $361,000 after purchasing an additional 139 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in Alibaba Group by 3.0% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,857 shares of the specialty retailer’s stock worth $515,000 after purchasing an additional 143 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.