Alibaba Group (NYSE:BABA) Shares Down 3.2% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $91.95 and last traded at $92.37. Approximately 7,016,483 shares were traded during trading, a decline of 60% from the average daily volume of 17,593,115 shares. The stock had previously closed at $95.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of Alibaba Group from $88.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Jefferies Financial Group restated a “buy” rating and set a $116.00 price objective on shares of Alibaba Group in a research report on Friday, July 26th. Macquarie raised Alibaba Group from a “neutral” rating to an “outperform” rating and set a $145.00 target price for the company in a report on Monday, October 7th. Susquehanna lowered their price target on Alibaba Group from $135.00 to $130.00 and set a “positive” rating on the stock in a report on Monday, August 19th. Finally, Loop Capital reiterated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research report on Thursday, August 29th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Trading Down 3.8 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50-day simple moving average of $97.49 and a 200 day simple moving average of $85.28. The company has a market capitalization of $219.81 billion, a P/E ratio of 24.18, a P/E/G ratio of 0.42 and a beta of 0.35.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $14.57. The company had revenue of $243.24 billion for the quarter, compared to the consensus estimate of $248.32 billion. Alibaba Group had a return on equity of 12.08% and a net margin of 7.31%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.47 earnings per share. Sell-side analysts expect that Alibaba Group Holding Limited will post 8.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. First Command Advisory Services Inc. acquired a new stake in shares of Alibaba Group in the second quarter valued at approximately $25,000. GPS Wealth Strategies Group LLC raised its stake in Alibaba Group by 139.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 209 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Alibaba Group in the 2nd quarter valued at $27,000. Concord Wealth Partners lifted its position in Alibaba Group by 155.0% during the third quarter. Concord Wealth Partners now owns 255 shares of the specialty retailer’s stock worth $27,000 after purchasing an additional 155 shares during the period. Finally, Highline Wealth Partners LLC bought a new position in Alibaba Group in the third quarter valued at approximately $36,000. Institutional investors own 13.47% of the company’s stock.

About Alibaba Group

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.