Alibaba Group (NYSE:BABA) Trading Down 2.1%

Shares of Alibaba Group Holding Limited (NYSE:BABA) traded down 2.1% during mid-day trading on Wednesday . The stock traded as low as $79.28 and last traded at $79.39. 4,199,269 shares were traded during trading, a decline of 74% from the average session volume of 16,467,283 shares. The stock had previously closed at $81.10.

Analyst Upgrades and Downgrades

BABA has been the topic of several research analyst reports. Truist Financial dropped their price objective on Alibaba Group from $113.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Bank of America increased their price target on Alibaba Group from $103.00 to $106.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group restated a “buy” rating and issued a $116.00 price objective on shares of Alibaba Group in a research note on Friday, July 26th. Barclays lowered their target price on shares of Alibaba Group from $109.00 to $107.00 and set an “overweight” rating on the stock in a report on Thursday, May 16th. Finally, Loop Capital boosted their price target on shares of Alibaba Group from $111.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $109.28.

Alibaba Group Stock Down 2.0 %

The company has a market cap of $201.63 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $76.56 and a 200 day moving average of $75.82.

Alibaba Group (NYSE:BABA) last posted its quarterly earnings data on Tuesday, May 14th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.13. Alibaba Group had a return on equity of 12.70% and a net margin of 8.44%. The business had revenue of $30.73 billion during the quarter, compared to analyst estimates of $30.59 billion. On average, research analysts anticipate that Alibaba Group Holding Limited will post 6.96 earnings per share for the current fiscal year.

Institutional Trading of Alibaba Group

A number of large investors have recently made changes to their positions in BABA. First Command Advisory Services Inc. bought a new position in Alibaba Group in the 2nd quarter worth about $25,000. EdgeRock Capital LLC purchased a new position in Alibaba Group during the 4th quarter worth $26,000. GPS Wealth Strategies Group LLC grew its stake in shares of Alibaba Group by 139.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 359 shares of the specialty retailer’s stock worth $26,000 after acquiring an additional 209 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Alibaba Group in the 1st quarter worth approximately $31,000. Finally, Asset Dedication LLC grew its position in Alibaba Group by 315.0% during the 2nd quarter. Asset Dedication LLC now owns 527 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 400 shares during the last quarter. 13.47% of the stock is owned by hedge funds and other 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.