Cortland Associates Inc. MO Acquires 201,124 Shares of JD.com, Inc. (NASDAQ:JD)

Cortland Associates Inc. MO raised its holdings in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 61.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 529,749 shares of the information services provider's stock after purchasing an additional 201,124 shares during the period. JD.com makes up about 2.6% of Cortland Associates Inc. MO's investment portfolio, making the stock its 15th largest holding. Cortland Associates Inc. MO's holdings in JD.com were worth $21,783,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in JD. FMR LLC lifted its holdings in shares of JD.com by 86.2% during the 4th quarter. FMR LLC now owns 28,447,641 shares of the information services provider's stock valued at $986,280,000 after buying an additional 13,170,649 shares during the period. CoreView Capital Management Ltd lifted its holdings in shares of JD.com by 204.8% during the 4th quarter. CoreView Capital Management Ltd now owns 6,399,711 shares of the information services provider's stock valued at $221,878,000 after buying an additional 4,299,872 shares during the period. Voya Investment Management LLC bought a new position in shares of JD.com during the 4th quarter valued at $109,665,000. Aspex Management HK Ltd bought a new position in JD.com in the 4th quarter worth $93,562,000. Finally, Norges Bank bought a new position in JD.com in the 4th quarter worth $70,130,000. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley decreased their target price on JD.com from $39.00 to $28.00 and set an "equal weight" rating on the stock in a report on Thursday. Arete cut JD.com from a "buy" rating to a "neutral" rating and set a $45.00 target price on the stock. in a report on Tuesday, June 24th. JPMorgan Chase & Co. cut their price target 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. Susquehanna cut their price target on JD.com from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Thursday, May 15th. Finally, UBS Group cut their price target on JD.com from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, JD.com has a consensus rating of "Moderate Buy" and an average target price of $45.31.

JD.com Trading Down 0.4%

JD stock traded down $0.12 during mid-day trading on Friday, reaching $31.10. The company had a trading volume of 7,745,286 shares, compared to its average volume of 13,920,979. The company has a market capitalization of $49.05 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 1.12 and a beta of 0.48. The firm has a 50 day moving average of $33.15 and a 200 day moving average of $36.60. JD.com, Inc. has a 12 month low of $24.13 and a 12 month high of $47.82. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.26 and a quick ratio of 0.92.

JD.com Company 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.