Alibaba Group (NYSE:BABA) Trading Down 4.2% Following Analyst Downgrade

Alibaba Group Holding Limited (NYSE:BABA)’s stock price fell 4.2% during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $245.00 to $240.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Alibaba Group traded as low as $172.30 and last traded at $173.60. 21,059,619 shares traded hands during trading, a decline of 2% from the average session volume of 21,446,521 shares. The stock had previously closed at $181.12.

BABA has been the topic of several other research reports. Robert W. Baird boosted their price target on shares of Alibaba Group from $153.00 to $174.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Benchmark upped their price objective on shares of Alibaba Group from $176.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, September 2nd. Arete upgraded shares of Alibaba Group from a “neutral” rating to a “buy” rating and set a $152.00 price objective on the stock in a report on Wednesday, September 3rd. Bank of America upped their price objective on shares of Alibaba Group from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, Susquehanna upped their price objective on shares of Alibaba Group from $175.00 to $190.00 and gave the stock a “positive” rating in a report on Thursday, September 18th. One 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’s stock. According to data from MarketBeat, Alibaba Group has an average rating of “Buy” and a consensus target price of $185.71.

Institutional Investors Weigh In On Alibaba Group

A number of institutional investors have recently made changes to their positions in BABA. North Ridge Wealth Advisors Inc. purchased a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. Summit Securities Group LLC grew its holdings in shares of Alibaba Group by 100.3% during the first quarter. Summit Securities Group LLC now owns 200 shares of the specialty retailer’s stock valued at $26,000 after buying an additional 59,000 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. 1248 Management LLC purchased a new stake in shares of Alibaba Group during the first quarter valued at approximately $26,000. Finally, Rosenberg Matthew Hamilton purchased a new stake in shares of Alibaba Group during the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 13.47% of the company’s stock.

Alibaba Group Trading Down 4.2%

The stock has a market cap of $413.88 billion, a PE ratio of 20.19, a PEG ratio of 2.14 and a beta of 0.18. The stock’s fifty day moving average price is $145.53 and its 200 day moving average price is $127.35. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

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.