Alibaba Group (NYSE:BABA) Shares Down 1.3% – What’s Next?

Shares of Alibaba Group Holding Limited (NYSE:BABA) fell 1.3% during mid-day trading on Wednesday . The stock traded as low as $123.12 and last traded at $123.84. 10,117,677 shares changed hands during trading, a decline of 18% from the average session volume of 12,337,886 shares. The stock had previously closed at $125.46.

Analyst Upgrades and Downgrades

BABA has been the topic of a number of recent analyst reports. Robert W. Baird cut their target price on Alibaba Group from $174.00 to $164.00 and set an “outperform” rating on the stock in a research report on Friday, March 20th. Weiss Ratings lowered shares of Alibaba Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 27th. Argus raised shares of Alibaba Group to a “hold” rating in a report on Tuesday, March 24th. Morgan Stanley dropped their target price on shares of Alibaba Group from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, Jefferies Financial Group decreased their price target on Alibaba Group from $225.00 to $212.00 and set a “buy” rating for the company in a research note on Thursday, March 19th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $187.89.

Alibaba Group Stock Performance

The stock’s 50-day moving average price is $148.19 and its 200-day moving average price is $157.68. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $295.66 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.10 and a beta of 0.43.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Alibaba Group by 7,680.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,014,147 shares of the specialty retailer’s stock worth $881,554,000 after purchasing an additional 5,936,847 shares during the period. Capital World Investors grew its stake in Alibaba Group by 1,074.9% during the 3rd quarter. Capital World Investors now owns 6,038,318 shares of the specialty retailer’s stock worth $1,079,229,000 after buying an additional 5,524,354 shares during the last quarter. Norges Bank bought a new position in Alibaba Group during the 4th quarter worth $594,477,000. Alkeon Capital Management LLC acquired a new stake in Alibaba Group in the second quarter worth $184,291,000. Finally, Artisan Partners Limited Partnership bought a new stake in Alibaba Group in the third quarter valued at $290,208,000. Institutional investors 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.