Alibaba Group (NYSE:BABA) Stock Price Down 0.4% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares were down 0.4% during mid-day trading on Thursday . The company traded as low as $117.58 and last traded at $118.46. Approximately 3,282,080 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 20,672,509 shares. The stock had previously closed at $118.97.

Analysts Set New Price Targets

Several equities analysts have commented on BABA shares. Morgan Stanley raised shares of Alibaba Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $100.00 to $180.00 in a research note on Monday, February 24th. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Robert W. Baird increased their price target on Alibaba Group from $110.00 to $125.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Sanford C. Bernstein upgraded Alibaba Group from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Finally, Arete Research raised Alibaba Group to a "strong-buy" rating in a report on Friday, February 28th. Fourteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $150.36.

Alibaba Group Price Performance

The stock has a market capitalization of $283.85 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 0.61 and a beta of 0.24. 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 stock has a 50-day simple moving average of $126.71 and a 200 day simple moving average of $104.76.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The specialty retailer reported $2.77 EPS for the quarter, missing analysts' consensus estimates of $2.84 by ($0.07). Alibaba Group had a net margin of 12.29% and a return on equity of 12.89%. The company had revenue of $38.38 billion for the quarter, compared to analysts' expectations of $38.19 billion. On average, equities research analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in Alibaba Group during the fourth quarter worth $585,479,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Alibaba Group by 3,214.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,378,671 shares of the specialty retailer's stock worth $578,992,000 after purchasing an additional 4,246,564 shares during the last quarter. Renaissance Technologies LLC boosted its position in Alibaba Group by 208.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,995,640 shares of the specialty retailer's stock worth $254,000,000 after purchasing an additional 2,024,640 shares during the period. Appaloosa LP raised its position in shares of Alibaba Group by 18.4% in the fourth quarter. Appaloosa LP now owns 11,843,158 shares of the specialty retailer's stock valued at $1,004,181,000 after purchasing an additional 1,843,158 shares during the period. Finally, Janus Henderson Group PLC raised its position 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. Institutional investors 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.

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