Alibaba Group (NYSE:BABA) Stock Price Down 1.7% – Here’s What Happened

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

Wall Street Analyst Weigh In

Several research firms recently commented on BABA. Weiss Ratings reissued a “buy (b-)” rating on shares of Alibaba Group in a report on Wednesday, October 8th. Robert W. Baird raised their target price on Alibaba Group from $153.00 to $174.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Mizuho set a $195.00 target price on Alibaba Group in a research note on Wednesday, October 22nd. UBS Group reiterated a “buy” rating and issued a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Finally, Bank of America raised their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.18.

Alibaba Group Stock Performance

The company has a market cap of $376.97 billion, a PE ratio of 18.37, a PEG ratio of 2.40 and a beta of 0.19. The stock has a 50 day simple moving average of $166.52 and a two-hundred day simple moving average of $135.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.45 and a quick ratio of 1.45.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors and hedge funds have recently made changes to their positions in BABA. Trustmark Bank Trust Department grew its holdings in shares of Alibaba Group by 2.3% during the third quarter. Trustmark Bank Trust Department now owns 19,836 shares of the specialty retailer’s stock worth $3,545,000 after buying an additional 450 shares during the last quarter. Marietta Investment Partners LLC raised its stake in Alibaba Group by 7.6% during the 3rd quarter. Marietta Investment Partners LLC now owns 29,088 shares of the specialty retailer’s stock valued at $5,199,000 after acquiring an additional 2,063 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in Alibaba Group by 11.0% during the 3rd quarter. Aptus Capital Advisors LLC now owns 2,060 shares of the specialty retailer’s stock worth $368,000 after acquiring an additional 204 shares during the period. Integrity Advisory Solutions LLC purchased a new position in shares of Alibaba Group in the 3rd quarter valued at approximately $571,000. Finally, Rovida Investment Management Ltd acquired a new position in shares of Alibaba Group in the third quarter valued at approximately $3,574,000. 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.