Alibaba Group (NYSE:BABA) Stock Price Down 1.9% - What's Next?

Key Points

• Alibaba Group's shares fell 1.9% on Wednesday, trading as low as $144.12, amid a significant decline in trading volume.
• Wall Street forecasts a consensus "Buy" rating for Alibaba, with an average target price of $167.40, as several analysts have recently increased their price targets.
• Institutional investors hold 13.47% of Alibaba's stock, with notable increases in holdings from several hedge funds in the last quarter.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price was down 1.9% on Wednesday . The company traded as low as $144.12 and last traded at $144.32. Approximately 7,678,177 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 21,247,090 shares. The stock had previously closed at $147.10.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on BABA shares. Arete upgraded Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target for the company in a report on Wednesday, September 3rd. Barclays boosted their target price on Alibaba Group from $145.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday. Robert W. Baird lifted their price objective on shares of Alibaba Group from $142.00 to $153.00 and gave the company an "outperform" rating in a research note on Tuesday, September 2nd. Zacks Research raised shares of Alibaba Group from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $167.40.

Alibaba Group Stock Performance

The business has a fifty day simple moving average of $123.33 and a two-hundred day simple moving average of $122.63. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The company has a market cap of $369.60 billion, a P/E ratio of 18.03, a P/E/G ratio of 2.17 and a beta of 0.11.

Hedge Funds Weigh In On Alibaba Group

Several large investors have recently modified their holdings of BABA. Brighton Jones LLC grew its position in Alibaba Group by 40.4% in the 4th quarter. Brighton Jones LLC now owns 3,411 shares of the specialty retailer's stock valued at $289,000 after acquiring an additional 981 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Alibaba Group by 5.0% during the fourth quarter. Captrust Financial Advisors now owns 11,200 shares of the specialty retailer's stock valued at $950,000 after acquiring an additional 536 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Alibaba Group by 11.2% in the fourth quarter. Focus Partners Wealth now owns 14,537 shares of the specialty retailer's stock valued at $1,254,000 after purchasing an additional 1,464 shares during the period. Quantinno Capital Management LP lifted its position in Alibaba Group by 15.0% during the fourth quarter. Quantinno Capital Management LP now owns 22,612 shares of the specialty retailer's stock valued at $1,917,000 after purchasing an additional 2,953 shares during the period. Finally, Point72 Hong Kong Ltd lifted its stake in shares of Alibaba Group by 1,632.3% in the 4th quarter. Point72 Hong Kong Ltd now owns 545,257 shares of the specialty retailer's stock valued at $46,232,000 after purchasing an additional 513,781 shares during the period. Institutional investors own 13.47% of the company's stock.

Alibaba Group Company Profile

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.