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

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

Analysts Set New Price Targets

BABA has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on Alibaba Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a research note on Friday, March 20th. JPMorgan Chase & Co. cut their price objective 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. Loop Capital set a $140.00 price objective on Alibaba Group in a research note on Tuesday, January 6th. Argus raised Alibaba Group to a “hold” rating in a research note on Tuesday, March 24th. Finally, Freedom Capital downgraded Alibaba Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 6th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.89.

Alibaba Group Trading Down 2.2%

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 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 market capitalization 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 results on Saturday, February 14th. The specialty retailer reported $0.13 EPS for the quarter. The company had revenue of $40.71 billion for the quarter. Alibaba Group had a return on equity of 7.43% and a net margin of 9.12%. Sell-side analysts expect that Alibaba Group Holding Limited will post 7.86 earnings per share for the current year.

Institutional Trading of Alibaba Group

Several institutional investors have recently modified their holdings of the company. Traphagen Investment Advisors LLC grew its holdings 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 worth $539,000 after purchasing an additional 59 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of 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 in the last quarter. Bluesphere Advisors LLC grew its holdings in shares of Alibaba Group by 2.2% during 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 in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Alibaba Group by 34.4% during 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 in the last quarter. Finally, Transcend Capital Advisors LLC grew its holdings in shares of Alibaba Group by 1.0% during the 3rd quarter. Transcend Capital Advisors LLC now owns 6,661 shares of the specialty retailer’s stock worth $1,191,000 after purchasing an additional 66 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 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.