Alibaba Group (NYSE:BABA) Shares Down 2% - Should You Sell?

Key Points

• Alibaba Group's shares fell 2% during trading, closing at $171.88, with a trading volume 27% below the average.
• Analysts have a consensus Buy rating for BABA, with price targets set between $152.00 and $178.00.
• Hedge funds have shown interest in the stock, with 13.47% of shares currently held by institutional investors.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report)'s share price was down 2% during trading on Friday . The stock traded as low as $169.70 and last traded at $171.88. Approximately 15,881,590 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 21,644,162 shares. The stock had previously closed at $175.47.

Analysts Set New Price Targets

Several brokerages have weighed in on BABA. Arete Research raised Alibaba Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. UBS Group reiterated a "buy" rating and set a $162.00 price target on shares of Alibaba Group in a research note on Sunday, August 31st. Jefferies Financial Group boosted their price objective on Alibaba Group from $165.00 to $178.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Mizuho increased their target price on shares of Alibaba Group from $149.00 to $159.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 2nd. Finally, Arete raised shares of Alibaba Group from a "neutral" rating to a "buy" rating and set a $152.00 price target on the stock in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $172.81.

Alibaba Group Stock Performance

The business's fifty day moving average price is $133.34 and its 200-day moving average price is $124.47. 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 stock has a market capitalization of $409.77 billion, a PE ratio of 19.99, a P/E/G ratio of 2.17 and a beta of 0.11.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. North Ridge Wealth Advisors Inc. bought a new stake in Alibaba Group during the first quarter valued at $26,000. Summit Securities Group LLC raised its holdings in shares of Alibaba Group by 100.3% in the 1st quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer's stock valued at $26,000 after acquiring an additional 59,000 shares in the last quarter. Ransom Advisory Ltd bought a new stake in shares of Alibaba Group during the 1st quarter valued at about $26,000. 1248 Management LLC purchased a new position in shares of Alibaba Group during the first quarter worth about $26,000. Finally, Rosenberg Matthew Hamilton bought a new position in shares of Alibaba Group in the second quarter worth approximately $26,000. 13.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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