Alibaba Group (NYSE:BABA) Trading Down 5.9% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price fell 5.9% during trading on Monday . The stock traded as low as $105.15 and last traded at $109.66. 24,666,015 shares were traded during mid-day trading, an increase of 25% from the average session volume of 19,746,368 shares. The stock had previously closed at $116.54.

Analyst Upgrades and Downgrades

BABA has been the subject of several recent research reports. Citigroup dropped their target price on shares of Alibaba Group from $170.00 to $169.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Barclays raised their price objective on shares of Alibaba Group from $130.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Benchmark increased their target price on Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a report on Friday, February 21st. Mizuho boosted their price target on Alibaba Group from $140.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, March 28th. Finally, Bank of America upped their price objective on Alibaba Group from $117.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $150.36.

Alibaba Group Trading Up 3.6 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $256.26 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 0.61 and a beta of 0.24. The business has a fifty day moving average price of $126.59 and a 200 day moving average price of $104.64.

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Alibaba Group (NYSE:BABA - Get Free Report) last announced 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). Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. The firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. As a group, equities analysts forecast that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Alibaba Group during the 4th quarter valued at about $585,479,000. Renaissance Technologies LLC raised its stake in shares of Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock valued at $254,000,000 after purchasing an additional 2,024,640 shares during the period. Appaloosa LP lifted its position in shares of Alibaba Group by 18.4% during the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock worth $1,004,181,000 after purchasing an additional 1,843,158 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Alibaba Group by 95.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,112,187 shares of the specialty retailer's stock valued at $179,087,000 after purchasing an additional 1,030,999 shares during the period. Finally, Polunin Capital Partners Ltd grew its holdings in Alibaba Group by 218.1% during the 1st quarter. Polunin Capital Partners Ltd now owns 1,325,120 shares of the specialty retailer's stock valued at $175,221,000 after purchasing an additional 908,544 shares in the last quarter. Institutional investors and hedge funds own 13.47% of the company's stock.

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.