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Bank of Nova Scotia Sells 9,976 Shares of JD.com, Inc. (NASDAQ:JD)

JD.com logo with Retail/Wholesale background

Key Points

  • Bank of Nova Scotia reduced its holdings in JD.com, Inc. by 9.1%, selling 9,976 shares during the first quarter, leaving them with 100,144 shares worth approximately $4.12 million.
  • Multiple institutional investors have updated their stakes in JD.com, with significant increases in holdings from firms like GeoWealth Management and Farther Finance Advisors.
  • Wall Street analysts have varied projections for JD.com, with price targets ranging from $28.00 to $48.00 and a consensus rating of "Moderate Buy."
  • Looking to Export and Analyze JD.com Data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Bank of Nova Scotia decreased its holdings in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 9.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 100,144 shares of the information services provider's stock after selling 9,976 shares during the period. Bank of Nova Scotia's holdings in JD.com were worth $4,118,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC purchased a new stake in JD.com during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new stake in JD.com during the 1st quarter worth approximately $32,000. GeoWealth Management LLC grew its position in JD.com by 129.1% during the 4th quarter. GeoWealth Management LLC now owns 1,393 shares of the information services provider's stock worth $48,000 after purchasing an additional 785 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in JD.com during the 1st quarter worth approximately $56,000. Finally, Farther Finance Advisors LLC grew its position in JD.com by 23.7% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 15.98% of the company's stock.

Wall Street Analysts Forecast Growth

JD has been the topic of several research analyst reports. Macquarie reissued a "neutral" rating and set a $35.00 target price on shares of JD.com in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of JD.com from $48.00 to $42.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Susquehanna decreased their price objective on shares of JD.com from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of JD.com from $39.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Bank of America decreased their price objective on shares of JD.com from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $44.00.

View Our Latest Report on JD.com

JD.com Price Performance

Shares of NASDAQ JD opened at $31.34 on Wednesday. The firm has a market cap of $43.77 billion, a PE ratio of 7.63, a PEG ratio of 4.14 and a beta of 0.46. The firm has a fifty day moving average of $32.56 and a 200 day moving average of $36.30. 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 one year low of $24.92 and a one year high of $47.82.

About JD.com

(Free Report)

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.

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Institutional Ownership by Quarter for JD.com (NASDAQ:JD)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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