Alibaba Group (NYSE:BABA) Trading Down 0.7% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) shares traded down 0.7% during mid-day trading on Wednesday . The company traded as low as $124.95 and last traded at $126.04. 15,195,935 shares changed hands during trading, a decline of 40% from the average session volume of 25,499,340 shares. The stock had previously closed at $126.90.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Benchmark boosted their target price on shares of Alibaba Group from $118.00 to $190.00 and gave the company a "buy" rating in a research note on Friday. StockNews.com raised shares of Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday. Citigroup upped their price objective on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a "buy" rating in a research note on Friday, January 10th. Robert W. Baird upped their price objective on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Bank of America upped their price objective on shares of Alibaba Group from $117.00 to $150.00 and gave the stock a "buy" rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $131.93.

Alibaba Group Price Performance

The firm has a market capitalization of $341.36 billion, a P/E ratio of 29.14, a P/E/G ratio of 0.53 and a beta of 0.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.37. The stock's fifty day simple moving average is $94.31 and its 200 day simple moving average is $92.42.

Alibaba Group (NYSE:BABA - Get Free Report) last announced its earnings results 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 return on equity of 12.28% and a net margin of 8.98%. The firm had revenue of $38.38 billion during the quarter, compared to the consensus estimate of $38.19 billion. On average, equities research analysts predict that Alibaba Group Holding Limited will post 7.86 EPS for the current year.

Hedge Funds Weigh In On Alibaba Group

Hedge funds have recently modified their holdings of the stock. Concord Wealth Partners increased its holdings in shares of Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer's stock valued at $27,000 after acquiring an additional 155 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in shares of Alibaba Group during the third quarter valued at about $36,000. Decker Retirement Planning Inc. acquired a new position in shares of Alibaba Group during the fourth quarter valued at about $31,000. Sierra Ocean LLC acquired a new position in shares of Alibaba Group during the fourth quarter valued at about $32,000. Finally, Assetmark Inc. boosted its position in Alibaba Group by 225.4% in the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer's stock valued at $42,000 after buying an additional 275 shares during 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.

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