Alibaba Group (NYSE:BABA) Stock Price Down 1.5% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) was down 1.5% during mid-day trading on Thursday. The stock traded as low as $98.80 and last traded at $99.4550. Approximately 6,731,025 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 11,402,097 shares. The stock had previously closed at $100.96.

Analysts Set New Price Targets

A number of brokerages recently commented on BABA. Weiss Ratings upgraded shares of Alibaba Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Jefferies Financial Group reissued a “buy” rating and set a $192.00 price objective on shares of Alibaba Group in a research report on Thursday, October 8th. Benchmark reissued a “buy” rating on shares of Alibaba Group in a report on Thursday, August 20th. Robert W. Baird lowered their price objective on shares of Alibaba Group from $164.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 21st. Finally, Citigroup upped their target price on shares of Alibaba Group from $190.00 to $193.00 and gave the company a “buy” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $182.89.

Alibaba Group Trading Down 1.5%

The stock has a 50-day moving average price of $110.89 and a two-hundred day moving average price of $127.20. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $247.42 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 1.30 and a beta of 0.47.

Alibaba Group (NYSE:BABA) last announced its earnings results on Friday, August 14th. The specialty retailer reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.94 by ($0.68). The company had revenue of $39.64 billion during the quarter, compared to analysts’ expectations of $39.52 billion. Alibaba Group had a return on equity of 4.79% and a net margin of 7.00%. Alibaba Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $14.75 EPS. Sell-side analysts forecast that Alibaba Group Holding Limited will post 5.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alibaba Group news, General Counsel Siying Yu sold 6,764 shares of Alibaba Group stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $13.58, for a total value of $91,855.12. Following the transaction, the general counsel owned 613,965 shares in the company, valued at $8,337,644.70. The trade was a 1.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Fang Jiang sold 885,272 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $13.55, for a total value of $11,995,435.60. Following the completion of the sale, the insider directly owned 4,679,097 shares of the company’s stock, valued at approximately $63,401,764.35. This represents a 15.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 999,971 shares of company stock valued at $13,563,304 over the last ninety days. Company insiders own 12.50% of the company’s stock.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. AMF Tjanstepension AB grew its holdings in shares of Alibaba Group by 4.1% in the first quarter. AMF Tjanstepension AB now owns 2,206,634 shares of the specialty retailer’s stock valued at $276,844,000 after purchasing an additional 86,613 shares during the period. Baird Financial Group Inc. grew its stake in shares of Alibaba Group by 6.7% in the second quarter. Baird Financial Group Inc. now owns 754,749 shares of the specialty retailer’s stock worth $72,441,000 after acquiring an additional 47,358 shares in the last quarter. Sei Investments Co. increased its holdings in Alibaba Group by 63.5% during the 1st quarter. Sei Investments Co. now owns 573,409 shares of the specialty retailer’s stock worth $71,940,000 after purchasing an additional 222,666 shares during the period. Candriam S.C.A. increased its position in shares of Alibaba Group by 104.6% in the 1st quarter. Candriam S.C.A. now owns 564,818 shares of the specialty retailer’s stock valued at $70,862,000 after purchasing an additional 288,738 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Alibaba Group by 19.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 534,794 shares of the specialty retailer’s stock worth $67,095,000 after acquiring an additional 86,484 shares in the last quarter. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.