Alibaba Group (NYSE:BABA) Stock Price Down 2% – Time to Sell?

Alibaba Group Holding Limited (NYSE:BABA) dropped 2% during mid-day trading on Tuesday . The stock traded as low as $161.68 and last traded at $162.1530. Approximately 9,787,370 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 16,769,990 shares. The stock had previously closed at $165.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Alibaba Group from $240.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Sanford C. Bernstein lowered their price objective on Alibaba Group from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Citigroup increased their target price on Alibaba Group from $218.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Mizuho set a $195.00 price target on Alibaba Group in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group cut their price objective on Alibaba Group from $231.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $191.63.

Alibaba Group Stock Down 2.0%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $387.13 billion, a P/E ratio of 22.40, a PEG ratio of 3.53 and a beta of 0.37. The firm’s 50-day simple moving average is $155.99 and its 200 day simple moving average is $148.55.

Hedge Funds Weigh In On Alibaba Group

Large investors have recently modified their holdings of the business. Verde Servicos Internacionais S.A. grew its holdings in shares of Alibaba Group by 6.9% during the 2nd quarter. Verde Servicos Internacionais S.A. now owns 67,773 shares of the specialty retailer’s stock valued at $7,686,000 after purchasing an additional 4,373 shares during the last quarter. NTV Asset Management LLC lifted its stake in shares of Alibaba Group by 127.4% in the third quarter. NTV Asset Management LLC now owns 15,143 shares of the specialty retailer’s stock worth $2,707,000 after acquiring an additional 8,484 shares during the period. Ninety One UK Ltd acquired a new position in shares of Alibaba Group in the 2nd quarter worth approximately $15,318,000. Marex Group plc acquired a new position in Alibaba Group in the second quarter valued at $17,139,000. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of Alibaba Group by 197.0% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,225 shares of the specialty retailer’s stock valued at $3,881,000 after purchasing an additional 22,701 shares during the period. 13.47% of the stock is currently owned by institutional investors and hedge funds.

Alibaba Group Company Profile

Alibaba Group Holding Limited is a Chinese multinational conglomerate founded in 1999 in Hangzhou, China, by Jack Ma and a group of co‑founders. The company built its business around internet-based commerce and related services and has grown into one of the largest e-commerce and technology companies in the world. Alibaba completed a high‑profile initial public offering on the New York Stock Exchange in 2014.

The company operates a portfolio of online marketplaces and platforms serving different customer segments: Alibaba.com for global and domestic B2B trade, Taobao for consumer-to-consumer shopping, and Tmall for brand and retailer storefronts targeted at Chinese consumers.