Alibaba Group (NYSE:BABA) Shares Down 1.2%

Shares of Alibaba Group Holding Limited (NYSE:BABA) dropped 1.2% during mid-day trading on Friday . The company traded as low as $81.22 and last traded at $81.46. Approximately 2,327,686 shares changed hands during trading, a decline of 86% from the average daily volume of 16,481,861 shares. The stock had previously closed at $82.43.

Analyst Ratings Changes

BABA has been the topic of a number of recent analyst reports. Barclays reduced their price target on Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a research report on Thursday, May 16th. Sanford C. Bernstein upped their price target on Alibaba Group from $80.00 to $85.00 and gave the stock a “market perform” rating in a research report on Friday, August 16th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a research report on Friday, August 23rd. Citigroup cut their target price on Alibaba Group from $124.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

The firm’s fifty day simple moving average is $78.70 and its 200 day simple moving average is $76.85. 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 company has a market capitalization of $206.98 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 0.42 and a beta of 0.32.

Alibaba Group (NYSE:BABA) last posted its earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $14.57. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. During the same period in the prior year, the company posted $2.47 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. 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 modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Alibaba Group by 168.6% in the 4th quarter. International Assets Investment Management LLC now owns 10,245 shares of the specialty retailer’s stock valued at $794,000 after buying an additional 6,431 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Alibaba Group by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 13,785 shares of the specialty retailer’s stock valued at $1,068,000 after buying an additional 1,899 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Alibaba Group by 9.1% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,710 shares of the specialty retailer’s stock valued at $210,000 after buying an additional 227 shares in the last quarter. Merit Financial Group LLC lifted its stake in Alibaba Group by 5.1% in the 4th quarter. Merit Financial Group LLC now owns 4,405 shares of the specialty retailer’s stock valued at $341,000 after buying an additional 214 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in Alibaba Group in the 4th quarter valued at about $1,036,000. 13.47% of the stock is 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.