Alibaba Group (NYSE:BABA) Stock Price Down 3% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA)’s stock price fell 3% during trading on Friday . The company traded as low as $87.26 and last traded at $87.89. 16,164,907 shares were traded during mid-day trading, a decline of 8% from the average session volume of 17,628,395 shares. The stock had previously closed at $90.58.

Analyst Upgrades and Downgrades

Several research firms recently commented on BABA. Mizuho upped their target price on Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. StockNews.com lowered shares of Alibaba Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Morgan Stanley restated an “equal weight” rating and issued a $90.00 target price on shares of Alibaba Group in a report on Friday, August 23rd. Truist Financial cut their price target on shares of Alibaba Group from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Benchmark reissued a “buy” rating and set a $118.00 price objective on shares of Alibaba Group in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.53.

Alibaba Group Trading Down 2.2 %

The business has a 50 day moving average price of $98.18 and a 200-day moving average price of $85.56. The firm has a market cap of $212.12 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 0.41 and a beta of 0.35. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Thursday, August 15th. The specialty retailer reported $16.44 earnings per share (EPS) 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 analyst estimates of $248.32 billion. Alibaba Group had a net margin of 7.31% and a return on equity of 12.08%. The business’s quarterly 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. As a group, research analysts expect that Alibaba Group Holding Limited will post 8.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

A number of institutional investors have recently added to or reduced their stakes in BABA. Assenagon Asset Management S.A. increased its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Alibaba Group by 3,180.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock worth $409,385,000 after purchasing an additional 3,740,150 shares during the last quarter. Hhlr Advisors LTD. raised its position in shares of Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares in the last quarter. FMR LLC boosted its stake in shares of Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock valued at $383,260,000 after buying an additional 2,959,954 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Alibaba Group by 9,205.2% during the third quarter. International Assets Investment Management LLC now owns 1,697,358 shares of the specialty retailer’s stock worth $1,801,240,000 after buying an additional 1,679,117 shares in the last quarter. Institutional investors and hedge funds 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.