Alibaba Group (NYSE:BABA) Trading Down 3.5% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) shares dropped 3.5% during trading on Thursday . The stock traded as low as $153.00 and last traded at $153.3120. Approximately 13,336,540 shares were traded during trading, a decline of 35% from the average daily volume of 20,644,066 shares. The stock had previously closed at $158.89.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. CLSA upped their target price on Alibaba Group from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 2nd. Mizuho set a $195.00 price objective on Alibaba Group in a research report on Wednesday, October 22nd. Robert W. Baird lifted their target price on Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Erste Group Bank raised shares of Alibaba Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alibaba Group from $245.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Trading Down 3.5%

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average is $168.80 and its 200 day moving average is $137.43. The firm has a market capitalization of $365.81 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 2.40 and a beta of 0.19.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Traphagen Investment Advisors LLC lifted its stake in shares of Alibaba Group by 2.0% in the third quarter. Traphagen Investment Advisors LLC now owns 3,018 shares of the specialty retailer’s stock worth $539,000 after acquiring an additional 59 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Alibaba Group by 26.4% during the 3rd 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 last quarter. 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 purchasing an additional 64 shares during the period. 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 purchasing an additional 65 shares during the period. Finally, Transcend Capital Advisors LLC boosted its stake 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 purchasing an additional 66 shares during the last quarter. 13.47% of the stock is owned by institutional investors.

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.