Alibaba Group (NYSE:BABA) Stock Price Down 2.4% – Here’s What Happened
by Amy Steele · The Cerbat GemAlibaba Group Holding Limited (NYSE:BABA – Get Free Report) shares fell 2.4% during trading on Monday . The stock traded as low as $132.09 and last traded at $132.5660. 6,426,321 shares changed hands during trading, a decline of 46% from the average session volume of 11,854,313 shares. The stock had previously closed at $135.82.
Wall Street Analyst Weigh In
Several brokerages have recently commented on BABA. Barclays dropped their price target on shares of Alibaba Group from $190.00 to $186.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Robert W. Baird dropped their price target on shares of Alibaba Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. Loop Capital set a $140.00 price target on shares of Alibaba Group in a research note on Tuesday, January 6th. Argus upgraded shares of Alibaba Group to a “hold” rating in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Alibaba Group from $215.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. Sixteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and an average target price of $187.68.
Get Our Latest Research Report on Alibaba Group
Alibaba Group Stock Down 2.4%
The business’s 50 day moving average is $134.96 and its 200-day moving average is $152.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $317.07 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 2.44 and a beta of 0.50.
Alibaba Group (NYSE:BABA – Get Free Report) last posted its earnings results on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter. Alibaba Group had a net margin of 9.12% and a return on equity of 7.43%. The business had revenue of $40.71 billion for the quarter. Equities analysts anticipate that Alibaba Group Holding Limited will post 4.39 EPS for the current fiscal year.
Institutional Trading of Alibaba Group
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Alibaba Group by 40.4% during the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer’s stock worth $289,000 after purchasing an additional 981 shares during the period. AQR Capital Management LLC bought a new position in shares of Alibaba Group during the 1st quarter worth about $254,000. Bank of Nova Scotia increased its holdings in shares of Alibaba Group by 313.0% during the 2nd quarter. Bank of Nova Scotia now owns 21,778 shares of the specialty retailer’s stock worth $2,470,000 after purchasing an additional 16,505 shares during the period. Daiwa Securities Group Inc. bought a new position in shares of Alibaba Group during the 2nd quarter worth about $1,613,000. Finally, Ieq Capital LLC increased its holdings in shares of Alibaba Group by 51.9% during the 2nd quarter. Ieq Capital LLC now owns 70,060 shares of the specialty retailer’s stock worth $7,946,000 after purchasing an additional 23,925 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.
About Alibaba Group
Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.
The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.