Alibaba Group (NYSE:BABA) Stock Price Down 3.6% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s share price dropped 3.6% during trading on Monday . The stock traded as low as $149.58 and last traded at $150.1470. Approximately 10,971,529 shares changed hands during trading, a decline of 45% from the average daily volume of 20,055,291 shares. The stock had previously closed at $155.68.

Analyst Upgrades and Downgrades

BABA has been the subject of a number of analyst reports. Susquehanna upped their price target on Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, September 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Citigroup boosted their price objective on shares of Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Finally, Bank of America upped their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Seventeen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alibaba Group has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Alibaba Group Price Performance

The company has a market cap of $350.59 billion, a P/E ratio of 20.29, a P/E/G ratio of 2.30 and a beta of 0.33. The company’s 50-day moving average price is $163.22 and its two-hundred day moving average price is $141.96. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BABA. Traphagen Investment Advisors LLC raised its position in shares of Alibaba Group by 2.0% during the 3rd quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock valued at $539,000 after acquiring an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Alibaba Group by 26.4% during the third quarter. Bruce G. Allen Investments LLC now owns 302 shares of the specialty retailer’s stock worth $54,000 after purchasing an additional 63 shares during the period. Bluesphere Advisors LLC lifted its position in shares of Alibaba Group by 2.2% in the 3rd quarter. Bluesphere Advisors LLC now owns 3,023 shares of the specialty retailer’s stock worth $540,000 after buying an additional 64 shares during the last quarter. Richardson Financial Services Inc. lifted its position in shares of Alibaba Group by 34.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 254 shares of the specialty retailer’s stock worth $45,000 after buying an additional 65 shares during the last quarter. Finally, Transcend Capital Advisors LLC boosted its holdings in shares of Alibaba Group by 1.0% in the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock valued at $1,191,000 after buying an additional 66 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.