Alibaba Group (NYSE:BABA) Trading Down 2.2% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price dropped 2.2% on Tuesday . The stock traded as low as $117.93 and last traded at $119.6330. Approximately 9,984,727 shares traded hands during trading, a decline of 18% from the average daily volume of 12,121,523 shares. The stock had previously closed at $122.31.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Loop Capital set a $140.00 price target on Alibaba Group in a research note on Tuesday, January 6th. Freedom Capital lowered Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Jefferies Financial Group decreased their price target on Alibaba Group from $225.00 to $212.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. JPMorgan Chase & Co. decreased their price target on Alibaba Group from $215.00 to $205.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. Finally, Argus raised Alibaba Group to a “hold” rating in a research note on Tuesday, March 24th. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Alibaba Group Trading Down 2.2%

The company has a 50-day simple moving average of $144.18 and a 200-day simple moving average of $156.57. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $285.61 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.12 and a beta of 0.50.

Alibaba Group (NYSE:BABA) last issued its quarterly earnings data on Saturday, February 14th. The specialty retailer reported $0.13 earnings per share (EPS) for the quarter. The firm had revenue of $40.71 billion during the quarter. Alibaba Group had a return on equity of 7.43% and a net margin of 9.12%. On average, sell-side analysts forecast that Alibaba Group Holding Limited will post 7.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Galaxy Group Investments LLC bought a new stake in shares of Alibaba Group during the fourth quarter worth $15,413,000. Purpose Unlimited Inc. bought a new stake in shares of Alibaba Group during the fourth quarter worth $3,104,000. World Investment Advisors raised its position in shares of Alibaba Group by 5.9% during the fourth quarter. World Investment Advisors now owns 10,799 shares of the specialty retailer’s stock worth $1,583,000 after acquiring an additional 606 shares during the last quarter. PeakShares LLC bought a new stake in shares of Alibaba Group during the fourth quarter worth $220,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of Alibaba Group during the fourth quarter worth $903,000. Institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.