Alibaba Group (NYSE:BABA) Shares Down 1.5% – Here’s What Happened

Shares of Alibaba Group Holding Limited (NYSE:BABA) were down 1.5% during trading on Friday . The company traded as low as $133.30 and last traded at $134.88. Approximately 4,953,480 shares changed hands during trading, a decline of 74% from the average daily volume of 18,970,392 shares. The stock had previously closed at $136.91.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Morgan Stanley upgraded shares of 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 research note on Monday, February 24th. Citigroup raised their target price on Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Barclays lifted their price objective on Alibaba Group from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Benchmark lifted their price target on Alibaba Group from $118.00 to $190.00 and gave the company a “buy” rating in a report on Friday, February 21st. Fifteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alibaba Group has an average rating of “Buy” and a consensus price target of $144.07.

Alibaba Group Stock Down 1.3 %

The stock’s 50-day moving average price is $116.49 and its 200-day moving average price is $100.78. The stock has a market cap of $321.14 billion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 0.61 and a beta of 0.27. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to analysts’ expectations of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Investors Weigh In On Alibaba Group

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