Allianz Asset Management GmbH Acquires 174,023 Shares of JD.com, Inc. (NASDAQ:JD)

Key Points

• Allianz Asset Management GmbH increased its stake in JD.com by 246.7%, acquiring an additional 174,023 shares during the first quarter, bringing its total holdings to approximately $10 million.
• Several institutional investors, including Hexagon Capital Partners and Wayfinding Financial, have also recently made moves to invest in JD.com, highlighting growing interest in the company.
• Recent analyst ratings for JD.com have varied, with price targets being adjusted downwards by firms like Mizuho and Bank of America, yet the overall consensus remains a "Moderate Buy" with an average target price of $44.00.

Allianz Asset Management GmbH grew its holdings in JD.com, Inc. (NASDAQ:JD - Free Report) by 246.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 244,562 shares of the information services provider's stock after purchasing an additional 174,023 shares during the quarter. Allianz Asset Management GmbH's holdings in JD.com were worth $10,070,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in JD. Hexagon Capital Partners LLC acquired a new stake in JD.com in the first quarter valued at approximately $25,000. GeoWealth Management LLC raised its holdings in JD.com by 129.1% in the fourth quarter. GeoWealth Management LLC now owns 1,393 shares of the information services provider's stock valued at $48,000 after acquiring an additional 785 shares in the last quarter. Allianz SE acquired a new stake in JD.com during the fourth quarter worth approximately $52,000. Wayfinding Financial LLC acquired a new stake in JD.com during the first quarter worth approximately $56,000. Finally, Farther Finance Advisors LLC raised its holdings in JD.com by 23.7% during the first quarter. Farther Finance Advisors LLC now owns 1,605 shares of the information services provider's stock worth $66,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 15.98% of the company's stock.

JD.com Trading Down 2.8%

Shares of NASDAQ:JD traded down $0.95 during midday trading on Tuesday, reaching $32.28. The company had a trading volume of 7,677,131 shares, compared to its average volume of 12,651,537. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 1.26. JD.com, Inc. has a 1-year low of $24.13 and a 1-year high of $47.82. The firm has a market cap of $45.08 billion, a price-to-earnings ratio of 7.86, a price-to-earnings-growth ratio of 4.34 and a beta of 0.48. The company has a fifty day simple moving average of $32.79 and a two-hundred day simple moving average of $36.47.

Analyst Upgrades and Downgrades

JD has been the topic of a number of research reports. Morgan Stanley lowered their target price on shares of JD.com from $39.00 to $28.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Benchmark lowered their target price on shares of JD.com from $53.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. Bank of America lowered their target price on shares of JD.com from $44.00 to $37.00 and set a "buy" rating on the stock in a research report on Monday, July 14th. Mizuho lowered their price objective on shares of JD.com from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of JD.com from $48.00 to $42.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, JD.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

JD.com Profile

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.