Alibaba Group (NYSE:BABA) Shares Gap Down to $84.60

Alibaba Group Holding Limited (NYSE:BABA - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $84.60, but opened at $79.65. Alibaba Group shares last traded at $79.70, with a volume of 10,688,683 shares.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BABA shares. The Goldman Sachs Group dropped their price objective on shares of Alibaba Group from $121.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, February 8th. JPMorgan Chase & Co. dropped their target price on shares of Alibaba Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Tuesday, April 9th. Morgan Stanley restated an "equal weight" rating and issued a $85.00 target price on shares of Alibaba Group in a research report on Tuesday, April 9th. Macquarie cut shares of Alibaba Group from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $88.50 to $85.40 in a research report on Thursday, February 8th. Finally, Susquehanna decreased their price target on shares of Alibaba Group from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, February 8th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $112.49.

Alibaba Group Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.80 and a quick ratio of 1.80. The company's fifty day simple moving average is $74.15 and its two-hundred day simple moving average is $75.07. The stock has a market cap of $201.76 billion, a price-to-earnings ratio of 14.66 and a beta of 0.44.

Institutional Trading of Alibaba Group

Several institutional investors have recently made changes to their positions in BABA. Baystate Wealth Management LLC grew its stake in shares of Alibaba Group by 184.6% in the 4th quarter. Baystate Wealth Management LLC now owns 333 shares of the specialty retailer's stock worth $26,000 after acquiring an additional 216 shares in the last quarter. EdgeRock Capital LLC bought a new stake in shares of Alibaba Group in the 4th quarter worth $26,000. First Command Advisory Services Inc. bought a new stake in shares of Alibaba Group in the 3rd quarter worth $30,000. Milestone Investment Advisors LLC bought a new stake in shares of Alibaba Group in the 3rd quarter worth $31,000. Finally, Anchor Investment Management LLC bought a new stake in shares of Alibaba Group in the 4th quarter worth $31,000. Institutional investors 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.