Alibaba Group (NYSE:BABA) Shares Down 1.8% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price traded down 1.8% during trading on Monday . The company traded as low as $100.37 and last traded at $100.57. 4,188,406 shares changed hands during trading, a decline of 77% from the average session volume of 17,860,926 shares. The stock had previously closed at $102.43.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lowered their price objective 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. Susquehanna reduced their price objective on shares of Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Barclays increased their price target on shares of Alibaba Group from $107.00 to $137.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. boosted their price target on Alibaba Group from $100.00 to $108.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.63.

Alibaba Group Stock Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average is $93.09 and its two-hundred day moving average is $82.71. The firm has a market cap of $248.68 billion, a P/E ratio of 23.01, a PEG ratio of 0.55 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. As a group, equities analysts predict that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of hedge funds have recently modified their holdings of the stock. Fiduciary Alliance LLC boosted its position in Alibaba Group by 154.1% during the first quarter. Fiduciary Alliance LLC now owns 55,229 shares of the specialty retailer’s stock worth $4,052,000 after purchasing an additional 33,490 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Alibaba Group by 462.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 169,220 shares of the specialty retailer’s stock worth $12,275,000 after buying an additional 139,134 shares during the period. SRN Advisors LLC grew its stake in Alibaba Group by 76.7% in the 1st quarter. SRN Advisors LLC now owns 22,259 shares of the specialty retailer’s stock valued at $1,611,000 after buying an additional 9,663 shares in the last quarter. Generate Investment Management Ltd bought a new stake in Alibaba Group during the 3rd quarter valued at $12,656,000. Finally, ORG Partners LLC lifted its position in shares of Alibaba Group by 52,685.7% during the first quarter. ORG Partners LLC now owns 11,085 shares of the specialty retailer’s stock worth $813,000 after acquiring an additional 11,064 shares in the last quarter. Institutional investors own 13.47% of the company’s stock.

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.