Alibaba Group (NYSE:BABA) Shares Down 2% – Here’s What Happened

by · The Markets Daily

Alibaba Group Holding Limited (NYSE:BABA – Get Free Report)’s stock price fell 2% during mid-day trading on Tuesday . The stock traded as low as $159.12 and last traded at $161.0230. 9,824,651 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 20,524,680 shares. The stock had previously closed at $164.26.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BABA shares. Sanford C. Bernstein cut their target price on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 26th. JPMorgan Chase & Co. cut their price objective on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Nomura increased their target price on shares of Alibaba Group from $170.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alibaba Group presently has an average rating of “Moderate Buy” and a consensus target price of $191.89.

Get Our Latest Stock Report on BABA

Alibaba Group Stock Performance

The firm has a fifty day moving average price of $168.30 and a 200 day moving average price of $139.18. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23. The firm has a market cap of $384.21 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 2.48 and a beta of 0.33.

Institutional Trading of Alibaba Group

Several hedge funds have recently made changes to their positions in the company. Traphagen Investment Advisors LLC lifted its holdings in Alibaba Group by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after acquiring an additional 59 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in Alibaba Group by 26.4% in the third quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock valued at $54,000 after purchasing an additional 63 shares during the period. Bluesphere Advisors LLC raised its position in Alibaba Group by 2.2% in the third quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock valued at $540,000 after purchasing an additional 64 shares during the period. Richardson Financial Services Inc. grew its holdings in shares of Alibaba Group by 34.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after purchasing an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Alibaba Group by 1.0% during the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock worth $1,191,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

(Get Free Report)

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.

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