Alibaba Group (NYSE:BABA) Trading Down 1.9% - Here's What Happened

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price dropped 1.9% on Monday . The company traded as low as $118.85 and last traded at $117.95. Approximately 2,741,237 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 20,675,504 shares. The stock had previously closed at $120.28.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BABA shares. Mizuho raised shares of Alibaba Group to a "strong-buy" rating in a research report on Friday, April 18th. Robert W. Baird raised their price objective on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Benchmark upped 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, February 21st. StockNews.com raised Alibaba Group from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Finally, Arete Research raised Alibaba Group to a "strong-buy" rating in a research note on Friday, February 28th. Fourteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the 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 Price Performance

The company has a 50 day moving average of $126.47 and a 200 day moving average of $104.80. The stock has a market capitalization of $281.97 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.61 and a beta of 0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.48 and a current ratio of 1.48.

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

Institutional Investors Weigh In On Alibaba Group

Institutional investors have recently modified their holdings of the stock. Appaloosa LP grew its position in 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 acquired a new position in Alibaba Group during the 4th quarter worth $585,479,000. Bank of America Corp DE increased its position in shares of Alibaba Group by 7.0% during the fourth 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 during the period. Fisher Asset Management LLC raised its stake in Alibaba Group by 1.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,093,828 shares of the specialty retailer's stock worth $431,906,000 after acquiring an additional 78,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 752,275 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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