Alibaba Group (NYSE:BABA) Shares Down 4.7% – Here’s What Happened

Alibaba Group Holding Limited (NYSE:BABA) shares dropped 4.7% on Monday . The company traded as low as $132.88 and last traded at $133.95. Approximately 12,770,940 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 18,617,866 shares. The stock had previously closed at $140.62.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BABA shares. Morgan Stanley upgraded Alibaba Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $100.00 to $180.00 in a research note on Monday, February 24th. Mizuho boosted their target price on shares of Alibaba Group from $92.00 to $113.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America increased their price target on shares of Alibaba Group from $117.00 to $150.00 and gave the company a “buy” rating in a report on Friday, February 21st. Arete Research raised shares of Alibaba Group to a “strong-buy” rating in a report on Friday, February 28th. Finally, Sanford C. Bernstein raised shares of Alibaba Group from a “market perform” rating to an “outperform” rating and increased their target price for the company from $104.00 to $165.00 in a report on Tuesday, February 25th. Fifteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $144.07.

Alibaba Group Price Performance

The company has a market capitalization of $330.76 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 0.61 and a beta of 0.28. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.19. The company’s 50 day simple moving average is $107.51 and its 200-day simple moving average is $97.63.

Alibaba Group (NYSE:BABA) last announced its earnings results on Thursday, February 20th. The specialty retailer reported $2.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.07). The firm had revenue of $38.38 billion for the quarter, compared to analyst estimates of $38.19 billion. Alibaba Group had a return on equity of 12.89% and a net margin of 12.29%. On average, equities research analysts predict that Alibaba Group Holding Limited will post 7.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in BABA. Decker Retirement Planning Inc. purchased a new position in Alibaba Group during the fourth quarter worth approximately $31,000. Sierra Ocean LLC purchased a new position in Alibaba Group in the fourth quarter valued at approximately $32,000. Assetmark Inc. grew its stake in Alibaba Group by 225.4% during the third quarter. Assetmark Inc. now owns 397 shares of the specialty retailer’s stock worth $42,000 after buying an additional 275 shares during the period. Strategic Investment Solutions Inc. IL increased its position in shares of Alibaba Group by 59.0% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 539 shares of the specialty retailer’s stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Finally, Redwood Park Advisors LLC acquired a new position in shares of Alibaba Group during the 4th quarter valued at $52,000. 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.