JD.com, Inc. $JD Stake Trimmed by Appaloosa LP

Key Points

• Appaloosa LP reduced its stake in JD.com by 23.1%, selling 2,415,885 shares, and now holds 8,050,000 shares accounting for 3.9% of its portfolio.
• JD.com saw an increase of 1.6% in its stock price, currently valued at $31.58, with a market cap of $44.11 billion.
• Analysts have varied opinions on JD.com, with some lowering their price targets while others maintain "buy" ratings, resulting in an average rating of "Moderate Buy."

Appaloosa LP cut its stake in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 23.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,050,000 shares of the information services provider's stock after selling 2,415,885 shares during the period. JD.com comprises approximately 3.9% of Appaloosa LP's holdings, making the stock its 4th largest position. Appaloosa LP owned approximately 0.51% of JD.com worth $331,016,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in JD. Dodge & Cox increased its stake in shares of JD.com by 8.0% in the 1st quarter. Dodge & Cox now owns 18,062,949 shares of the information services provider's stock worth $742,748,000 after purchasing an additional 1,339,508 shares in the last quarter. Invesco Ltd. increased its stake in shares of JD.com by 2.0% in the 1st quarter. Invesco Ltd. now owns 15,417,939 shares of the information services provider's stock worth $633,986,000 after purchasing an additional 295,900 shares in the last quarter. CoreView Capital Management Ltd increased its stake in shares of JD.com by 204.8% in the 4th quarter. CoreView Capital Management Ltd now owns 6,399,711 shares of the information services provider's stock worth $221,878,000 after purchasing an additional 4,299,872 shares in the last quarter. Hhlr Advisors LTD. increased its stake in shares of JD.com by 184.7% in the 1st quarter. Hhlr Advisors LTD. now owns 4,811,700 shares of the information services provider's stock worth $197,857,000 after purchasing an additional 3,121,700 shares in the last quarter. Finally, Temasek Holdings Private Ltd increased its stake in shares of JD.com by 18.4% in the 4th quarter. Temasek Holdings Private Ltd now owns 4,625,490 shares of the information services provider's stock worth $160,366,000 after purchasing an additional 718,760 shares in the last quarter. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

JD.com Price Performance

Shares of JD traded up $0.52 during midday trading on Friday, hitting $31.45. 13,854,012 shares of the company traded hands, compared to its average volume of 11,344,213. The firm has a 50 day moving average of $31.91 and a 200-day moving average of $34.93. JD.com, Inc. has a 52 week low of $25.61 and a 52 week high of $47.82. The stock has a market cap of $43.92 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 3.47 and a beta of 0.36. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.90 and a current ratio of 1.22.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JD. Arete lowered JD.com from a "buy" rating to a "neutral" rating and set a $45.00 price objective for the company. in a research note on Tuesday, June 24th. JPMorgan Chase & Co. reduced their price objective on JD.com from $48.00 to $42.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Benchmark reduced their price objective on JD.com from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Mizuho reduced their price objective on JD.com from $50.00 to $48.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Finally, Citigroup started coverage on shares of JD.com in a report on Monday, August 11th. They issued a "buy" rating and a $42.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.31.

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.