Alibaba Group (NYSE:BABA) Shares Down 0.7% – What’s Next?

Alibaba Group Holding Limited (NYSE:BABA) shares fell 0.7% during trading on Wednesday . The stock traded as low as $124.95 and last traded at $126.04. 15,195,935 shares traded hands during trading, a decline of 40% from the average session volume of 25,499,340 shares. The stock had previously closed at $126.90.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BABA. Benchmark reiterated a “buy” rating and issued a $118.00 price objective on shares of Alibaba Group in a report on Friday, November 15th. Citigroup increased their price target on shares of Alibaba Group from $133.00 to $138.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Mizuho raised their price objective on shares of Alibaba Group from $92.00 to $113.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird upped their target price on shares of Alibaba Group from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Barclays decreased their price target on shares of Alibaba Group from $137.00 to $130.00 and set an “overweight” rating for the company in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.93.

Alibaba Group Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.37 and a current ratio of 1.37. The firm’s 50-day moving average price is $92.64 and its two-hundred day moving average price is $91.88. The firm has a market cap of $302.09 billion, a PE ratio of 25.80, a P/E/G ratio of 0.53 and a beta of 0.31.

Hedge Funds Weigh In On Alibaba Group

Several hedge funds have recently made changes to their positions in BABA. Norges Bank acquired a new stake in shares of Alibaba Group in the 4th quarter valued at about $585,479,000. Assenagon Asset Management S.A. grew its position in shares of Alibaba Group by 1,392.6% during the third quarter. Assenagon Asset Management S.A. now owns 6,125,542 shares of the specialty retailer’s stock worth $650,043,000 after acquiring an additional 5,715,155 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alibaba Group by 3,180.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,857,760 shares of the specialty retailer’s stock valued at $409,385,000 after acquiring an additional 3,740,150 shares during the period. Hhlr Advisors LTD. raised its position in Alibaba Group by 64.1% in the 3rd quarter. Hhlr Advisors LTD. now owns 8,827,600 shares of the specialty retailer’s stock valued at $936,785,000 after purchasing an additional 3,448,152 shares during the last quarter. Finally, FMR LLC boosted its stake in Alibaba Group by 454.2% during the 3rd quarter. FMR LLC now owns 3,611,571 shares of the specialty retailer’s stock worth $383,260,000 after purchasing an additional 2,959,954 shares during the period. Hedge funds and other institutional investors own 13.47% of the company’s stock.

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.