Alibaba Group (NYSE:BABA) Shares Down 1.1% – Here’s Why

Alibaba Group Holding Limited (NYSE:BABA)’s share price was down 1.1% during trading on Monday . The company traded as low as $168.68 and last traded at $171.3710. Approximately 10,086,074 shares changed hands during trading, a decline of 40% from the average daily volume of 16,764,756 shares. The stock had previously closed at $173.23.

Wall Street Analysts Forecast Growth

BABA has been the topic of a number of recent analyst reports. Loop Capital set a $140.00 price target on shares of Alibaba Group in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Alibaba Group from a “hold” rating to a “sell” rating in a research report on Friday, November 28th. Barclays increased their price objective on shares of Alibaba Group from $190.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Nomura lifted their price objective on Alibaba Group from $193.00 to $237.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Arete Research upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Wednesday, January 21st. Eighteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $195.17.

Alibaba Group Stock Down 1.1%

The stock has a 50 day moving average of $156.97 and a 200 day moving average of $150.34. The firm has a market capitalization of $409.13 billion, a price-to-earnings ratio of 25.97, a P/E/G ratio of 3.73 and a beta of 0.37. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently added to or reduced their stakes in the company. Ameriflex Group Inc. increased its stake in Alibaba Group by 101.4% during the third quarter. Ameriflex Group Inc. now owns 143 shares of the specialty retailer’s stock valued at $26,000 after purchasing an additional 72 shares during the last quarter. Mather Group LLC. acquired a new stake in Alibaba Group in the third quarter worth $30,000. Foster Dykema Cabot & Partners LLC bought a new stake in Alibaba Group in the third quarter valued at $30,000. NBT Bank N A NY boosted its holdings in shares of Alibaba Group by 231.5% during the third quarter. NBT Bank N A NY now owns 179 shares of the specialty retailer’s stock valued at $32,000 after acquiring an additional 125 shares during the period. Finally, Palisade Asset Management LLC bought a new position in shares of Alibaba Group during the third quarter worth about $37,000. 13.47% of the stock is currently owned by institutional investors.

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.