Alibaba Group (NYSE:BABA) Shares Down 1.9% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 1.9% on Friday . The company traded as low as $87.40 and last traded at $87.56. Approximately 5,006,139 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 17,441,633 shares. The stock had previously closed at $89.23.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BABA. Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday, November 15th. StockNews.com lowered shares of Alibaba Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Susquehanna dropped their price objective on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a research note on Monday, August 19th. Loop Capital reissued a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Finally, Bank of America raised their price target on Alibaba Group from $106.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.07.

Alibaba Group Trading Down 1.6 %

The stock has a market cap of $209.87 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 0.44 and a beta of 0.30. The business has a 50-day simple moving average of $94.82 and a two-hundred day simple moving average of $86.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, November 15th. The specialty retailer reported $15.06 EPS for the quarter, topping the consensus estimate of $1.87 by $13.19. Alibaba Group had a net margin of 8.98% and a return on equity of 12.28%. The business had revenue of $236.50 billion during the quarter, compared to analysts’ expectations of $239.45 billion. During the same quarter in the prior year, the company posted $1.82 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Alibaba Group Holding Limited will post 8.44 EPS for the current year.

Institutional Trading of Alibaba Group

A number of hedge funds and other institutional investors have recently modified their holdings of BABA. Assenagon Asset Management S.A. grew its stake in Alibaba Group by 1,392.6% in the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock valued at $650,043,000 after purchasing an additional 5,715,155 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 worth $409,385,000 after buying an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. increased its holdings in Alibaba Group by 64.1% during the third quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock worth $936,785,000 after buying an additional 3,448,152 shares during the last quarter. FMR LLC raised its position in Alibaba Group by 454.2% during the third quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after acquiring an additional 2,959,954 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Alibaba Group by 9,205.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock valued at $1,801,240,000 after acquiring an additional 1,679,117 shares during the period. Institutional investors and hedge funds 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.