Alibaba Group (NYSE:BABA) Shares Down 2.3% - Should You Sell?

Key Points

• Alibaba Group's shares dropped by 2.3% during mid-day trading, closing at $162.90 after peaking at $160.00.
• Multiple analysts reinforced optimism for Alibaba, with price targets raised to as high as $215.00, and the stock receiving numerous "buy" and "outperform" ratings.
• Institutional investors have shown increased interest, with hedge funds significantly lifting their stakes in Alibaba Group during the first quarter.

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) was down 2.3% during mid-day trading on Tuesday . The company traded as low as $160.00 and last traded at $162.90. Approximately 18,449,392 shares were traded during trading, a decline of 15% from the average daily volume of 21,606,979 shares. The stock had previously closed at $166.81.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BABA shares. Barclays raised their target price on shares of Alibaba Group from $145.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. CLSA raised their price objective on Alibaba Group from $155.00 to $200.00 and gave the stock an "outperform" rating in a report on Thursday, October 2nd. Nomura raised their price target on Alibaba Group from $170.00 to $215.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Erste Group Bank raised Alibaba Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Finally, Bank of America raised their target price on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $188.06.

Alibaba Group Stock Down 2.3%

The firm has a market capitalization of $388.37 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.99 and a beta of 0.18. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $147.35 and a two-hundred day moving average price of $127.68.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Alibaba Group by 40.4% during 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alibaba Group by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 72,581 shares of the specialty retailer's stock worth $9,597,000 after purchasing an additional 2,731 shares in the last quarter. Good Life Advisors LLC lifted its stake in shares of Alibaba Group by 2.4% during the first quarter. Good Life Advisors LLC now owns 9,989 shares of the specialty retailer's stock worth $1,321,000 after purchasing an additional 230 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new position in shares of Alibaba Group during the first quarter worth about $463,000. Finally, Abound Wealth Management lifted its stake in shares of Alibaba Group by 4,028.0% during the first quarter. Abound Wealth Management now owns 1,032 shares of the specialty retailer's stock worth $136,000 after purchasing an additional 1,007 shares in the last quarter. 13.47% of the stock is owned by institutional investors and hedge funds.

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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