Alibaba Group (NYSE:BABA) Stock Price Down 3.8% - Here's Why

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price traded down 3.8% during trading on Wednesday . The company traded as low as $107.60 and last traded at $108.06. 7,131,212 shares changed hands during trading, a decline of 65% from the average session volume of 20,533,442 shares. The stock had previously closed at $112.28.

Analysts Set New Price Targets

BABA has been the subject of several analyst reports. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $104.00 to $165.00 in a research report on Tuesday, February 25th. Barclays increased their target price on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Robert W. Baird lifted their price target on shares of Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Finally, Citigroup lowered their price objective on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Fifteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $150.36.

Alibaba Group Trading Up 2.1 %

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average price of $127.07 and a 200-day moving average price of $104.75. The company has a market cap of $260.55 billion, a P/E ratio of 15.76, a PEG ratio of 0.61 and a beta of 0.24.

Alibaba Group (NYSE:BABA - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing the consensus estimate of $2.84 by ($0.07). The business had revenue of $38.38 billion during the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. Analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

A number of institutional investors have recently modified their holdings of the stock. Appaloosa LP raised its position in shares of Alibaba Group by 18.4% in the 4th quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after buying an additional 1,843,158 shares in the last quarter. Norges Bank bought a new stake in Alibaba Group during the fourth quarter worth $585,479,000. Bank of America Corp DE boosted its holdings in shares of Alibaba Group by 7.0% in the 4th quarter. Bank of America Corp DE now owns 6,676,773 shares of the specialty retailer's stock valued at $566,124,000 after purchasing an additional 438,537 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Alibaba Group by 1.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after buying an additional 78,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alibaba Group by 19.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,610,035 shares of the specialty retailer's stock worth $390,885,000 after buying an additional 752,275 shares during the last quarter. 13.47% of the stock is currently owned by institutional investors.

Alibaba Group Company Profile

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.