Alibaba Group (NYSE:BABA) Trading Down 1.7% – Should You Sell?

Alibaba Group Holding Limited (NYSE:BABA) shares dropped 1.7% during trading on Wednesday . The company traded as low as $156.20 and last traded at $157.9890. Approximately 13,731,491 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 20,741,137 shares. The stock had previously closed at $160.80.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Benchmark raised their target price on Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Jefferies Financial Group raised their price objective on Alibaba Group from $178.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, September 29th. Sanford C. Bernstein upped their target price on shares of Alibaba Group from $167.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Robert W. Baird increased their target price on shares of Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Bank of America boosted their price target on shares of Alibaba Group from $168.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $190.18.

Alibaba Group Trading Down 1.7%

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $376.97 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.40 and a beta of 0.19. The company’s 50 day moving average price is $166.52 and its 200 day moving average price is $135.96.

Hedge Funds Weigh In On Alibaba Group

Institutional investors have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC boosted its holdings in Alibaba Group by 1,349,768.3% in the second quarter. Kingstone Capital Partners Texas LLC now owns 49,013,718 shares of the specialty retailer’s stock valued at $5,558,646,000 after purchasing an additional 49,010,087 shares during the period. Primecap Management Co. CA raised its position in Alibaba Group by 0.7% in the 2nd quarter. Primecap Management Co. CA now owns 20,764,276 shares of the specialty retailer’s stock valued at $2,354,877,000 after purchasing an additional 140,579 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alibaba Group by 22.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,648,064 shares of the specialty retailer’s stock valued at $2,069,144,000 after buying an additional 2,885,154 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Alibaba Group by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,595,269 shares of the specialty retailer’s stock worth $1,136,554,000 after buying an additional 2,584,480 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alibaba Group by 85.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,557,495 shares of the specialty retailer’s stock worth $1,131,558,000 after buying an additional 3,947,460 shares during the period. Institutional investors and hedge funds 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.