Alibaba Group (NYSE:BABA) Trading Down 0.3%

Alibaba Group Holding Limited (NYSE:BABA)’s share price fell 0.3% on Wednesday . The company traded as low as $84.28 and last traded at $84.43. 1,959,891 shares were traded during trading, a decline of 88% from the average session volume of 16,246,360 shares. The stock had previously closed at $84.70.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BABA. Robert W. Baird increased their price target on Alibaba Group from $85.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Loop Capital restated a “buy” rating and issued a $115.00 target price on shares of Alibaba Group in a research note on Thursday, August 29th. Bank of America boosted their price target on shares of Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $90.00 price objective on shares of Alibaba Group in a report on Friday, August 23rd. Finally, Truist Financial cut their target price on Alibaba Group from $110.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.61.

Alibaba Group Stock Performance

The stock’s 50 day moving average price is $80.25 and its 200 day moving average price is $77.35. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $213.84 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 0.43 and a beta of 0.33.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings results on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share for the quarter, topping 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 net margin of 7.31% and a return on equity of 12.08%. Alibaba Group’s revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.47 earnings per share. On average, analysts expect that Alibaba Group Holding Limited will post 7.93 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of large investors have recently modified their holdings of BABA. Norges Bank purchased a new position in Alibaba Group in the fourth quarter valued at approximately $329,367,000. H&H International Investment LLC lifted its holdings in shares of Alibaba Group by 63.1% during the 4th quarter. H&H International Investment LLC now owns 4,959,230 shares of the specialty retailer’s stock valued at $384,390,000 after acquiring an additional 1,918,730 shares in the last quarter. Ruffer LLP boosted its position in Alibaba Group by 139.2% during the 4th quarter. Ruffer LLP now owns 3,140,839 shares of the specialty retailer’s stock worth $243,430,000 after purchasing an additional 1,828,019 shares during the period. AMF Tjanstepension AB raised its position in Alibaba Group by 79.5% in the second quarter. AMF Tjanstepension AB now owns 2,610,884 shares of the specialty retailer’s stock valued at $188,197,000 after purchasing an additional 1,156,479 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Alibaba Group by 384.2% in the 2nd quarter. Marshall Wace LLP now owns 1,424,944 shares of the specialty retailer’s stock worth $102,596,000 after acquiring an additional 1,130,643 shares during the period. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.