Alibaba Group (NYSE:BABA) Stock Price Down 1.5% – Time to Sell?

Alibaba Group Holding Limited (NYSE:BABA) traded down 1.5% during trading on Friday. The company traded as low as $97.48 and last traded at $98.08. Approximately 8,345,968 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 11,392,898 shares. The stock had previously closed at $99.54.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup lifted their target price on Alibaba Group from $190.00 to $193.00 and gave the stock a “buy” rating in a report on Thursday, October 8th. Susquehanna upped their price target on shares of Alibaba Group from $185.00 to $190.00 and gave the company a “positive” rating in a research note on Friday, August 28th. Piper Sandler downgraded shares of Alibaba Group to a “hold” rating in a research note on Thursday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $192.00 price target on shares of Alibaba Group in a research report on Thursday, October 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $165.00 price objective on shares of Alibaba Group in a research note on Monday, September 7th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Alibaba Group has an average rating of “Moderate Buy” and an average target price of $182.89.

Alibaba Group Trading Down 1.5%

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $244.00 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.31 and a beta of 0.47. The firm’s 50-day simple moving average is $110.30 and its 200 day simple moving average is $126.94.

Alibaba Group (NYSE:BABA) last released its quarterly earnings data on Friday, August 14th. The specialty retailer reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.94 by ($0.68). The business had revenue of $39.64 billion during the quarter, compared to analyst estimates of $39.52 billion. Alibaba Group had a net margin of 7.00% and a return on equity of 4.79%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $14.75 earnings per share. Equities analysts expect that Alibaba Group Holding Limited will post 5.76 earnings per share for the current year.

Insider Transactions at Alibaba Group

In other news, Director Joseph Tsai purchased 720,000 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $14.29 per share, with a total value of $10,288,800.00. Following the completion of the purchase, the director owned 114,979,168 shares of the company’s stock, valued at $1,643,052,310.72. This trade represents a 0.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Fang Jiang sold 885,272 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was sold at an average price of $13.55, for a total transaction of $11,995,435.60. Following the sale, the insider directly owned 4,679,097 shares in the company, valued at $63,401,764.35. The trade was a 15.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 999,971 shares of company stock valued at $13,563,304. 12.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alibaba Group

A number of hedge funds have recently bought and sold shares of the company. Provenance Wealth Advisors LLC lifted its stake in shares of Alibaba Group by 324.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 938 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 717 shares during the period. TT International Asset Management LTD raised its holdings in Alibaba Group by 2,775.0% during the third quarter. TT International Asset Management LTD now owns 185,036 shares of the specialty retailer’s stock worth $19,899,000 after buying an additional 178,600 shares during the last quarter. IPG Investment Advisors LLC lifted its position in Alibaba Group by 85.2% in the 3rd quarter. IPG Investment Advisors LLC now owns 31,519 shares of the specialty retailer’s stock valued at $3,390,000 after acquiring an additional 14,500 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management purchased a new position in shares of Alibaba Group during the third quarter valued at approximately $234,000. Finally, Summit Wealth Group LLC Co. purchased a new stake in shares of Alibaba Group in the third quarter valued at about $398,000. Institutional investors own 13.47% of the company’s stock.

About Alibaba Group

Alibaba Group Holding Limited is a technology and commerce company founded in 1999 and headquartered in Hangzhou, China. It operates a broad digital ecosystem that connects consumers, merchants, brands and businesses through online marketplaces, technology platforms and related services.

The company’s China commerce businesses include Taobao, a consumer-focused marketplace, and Tmall, which enables brands and retailers to sell directly to consumers. Alibaba also operates 1688, a business-to-business wholesale marketplace.