Alibaba Group (NYSE:BABA) Stock Price Down 2%

Shares of Alibaba Group Holding Limited (NYSE:BABA) were down 2% on Thursday . The stock traded as low as $110.80 and last traded at $112.90. Approximately 14,032,409 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 17,464,910 shares. The stock had previously closed at $115.25.

Analyst Ratings Changes

Several analysts have issued reports on BABA shares. Sanford C. Bernstein boosted their target price on Alibaba Group from $80.00 to $85.00 and gave the company a “market perform” rating in a research note on Friday, August 16th. Robert W. Baird boosted their target price on Alibaba Group from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Susquehanna lowered their target price 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. Truist Financial lowered their target price 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. Finally, JPMorgan Chase & Co. boosted their target price on Alibaba Group from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Trading Down 1.6 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $287.70 billion, a PE ratio of 26.32, a PEG ratio of 0.46 and a beta of 0.33. The stock’s 50 day simple moving average is $85.09 and its 200 day simple moving average is $79.27.

Alibaba Group (NYSE:BABA) last announced its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $14.57. The firm had revenue of $243.24 billion during 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 business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.47 EPS. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

Hedge funds have recently made changes to their positions in the business. H&H International Investment LLC raised its holdings in Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after buying an additional 1,918,730 shares during the last quarter. AMF Tjanstepension AB raised its holdings in Alibaba Group by 79.5% during the 2nd quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after buying an additional 1,156,479 shares during the last quarter. Marshall Wace LLP raised its holdings in Alibaba Group by 384.2% during the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock valued at $102,596,000 after buying an additional 1,130,643 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Alibaba Group by 523.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,335,600 shares of the specialty retailer’s stock valued at $96,163,000 after buying an additional 1,121,500 shares during the last quarter. Finally, Primecap Management Co. CA raised its holdings in Alibaba Group by 5.2% during the 2nd quarter. Primecap Management Co. CA now owns 21,870,987 shares of the specialty retailer’s stock valued at $1,574,711,000 after buying an additional 1,074,175 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

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.