JD.com, Inc. $JD Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A significantly increased its stake in JD.com, Inc. by 618.5% in Q1, acquiring 532,275 shares worth approximately $21.9 million.
• Multiple institutional investors, including CoreView Capital Management and Federated Hermes, have also raised their holdings in JD.com, indicating growing institutional interest in the stock.
• JD.com shares have seen varying price targets set by major firms, with Morgan Stanley lowering its target from $39 to $28, while others like UBS set a buy rating with a target of $50.

Credit Agricole S A boosted its holdings in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 618.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 532,275 shares of the information services provider's stock after purchasing an additional 458,195 shares during the quarter. Credit Agricole S A's holdings in JD.com were worth $21,887,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of JD. CoreView Capital Management Ltd raised its stake in shares of JD.com by 204.8% in the fourth quarter. CoreView Capital Management Ltd now owns 6,399,711 shares of the information services provider's stock valued at $221,878,000 after acquiring an additional 4,299,872 shares during the period. Voya Investment Management LLC purchased a new stake in shares of JD.com in the fourth quarter valued at $109,665,000. Aspex Management HK Ltd purchased a new stake in shares of JD.com in the fourth quarter valued at $93,562,000. Federated Hermes Inc. raised its stake in shares of JD.com by 61.9% in the first quarter. Federated Hermes Inc. now owns 4,374,070 shares of the information services provider's stock valued at $179,862,000 after acquiring an additional 1,671,839 shares during the period. Finally, ANTIPODES PARTNERS Ltd raised its stake in shares of JD.com by 112.8% in the first quarter. ANTIPODES PARTNERS Ltd now owns 2,942,624 shares of the information services provider's stock valued at $121,010,000 after acquiring an additional 1,559,749 shares during the period. Hedge funds and other institutional investors own 15.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Mizuho reduced their target price on shares of JD.com from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price target on shares of JD.com from $48.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Arete downgraded shares of JD.com from a "buy" rating to a "neutral" rating and set a $45.00 price target on the stock. in a research note on Tuesday, June 24th. Citigroup started coverage on shares of JD.com in a report on Monday, August 11th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Bank of America dropped their target price on shares of JD.com from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.31.

JD.com Stock Performance

JD stock traded up $0.70 during trading on Friday, reaching $31.88. The company had a trading volume of 11,991,043 shares, compared to its average volume of 9,323,250. The firm has a 50-day simple moving average of $32.19 and a 200-day simple moving average of $35.56. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 1.22. JD.com, Inc. has a twelve month low of $25.24 and a twelve month high of $47.82.

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.