Formidable Asset Management LLC Lowers Position in JD.com, Inc. (NASDAQ:JD)

Formidable Asset Management LLC reduced its stake in JD.com, Inc. (NASDAQ:JD - Free Report) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,739 shares of the information services provider's stock after selling 14,462 shares during the period. Formidable Asset Management LLC's holdings in JD.com were worth $3,073,000 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. Hexagon Capital Partners LLC bought a new position in shares of JD.com during the first quarter valued at approximately $25,000. Farther Finance Advisors LLC boosted its stake in JD.com by 111.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,297 shares of the information services provider's stock valued at $45,000 after acquiring an additional 684 shares in the last quarter. GeoWealth Management LLC boosted its stake 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 in the fourth quarter valued at approximately $52,000. Finally, Wayfinding Financial LLC acquired a new stake in JD.com in the first quarter valued at approximately $56,000. 15.98% of the stock is currently owned by institutional investors.

JD.com Price Performance

Shares of NASDAQ JD traded up $1.23 during midday trading on Friday, hitting $33.92. The company had a trading volume of 23,753,557 shares, compared to its average volume of 14,039,427. The company has a quick ratio of 0.92, a current ratio of 1.26 and a debt-to-equity ratio of 0.18. JD.com, Inc. has a twelve month low of $24.13 and a twelve month high of $47.82. The business has a 50-day simple moving average of $32.98 and a two-hundred day simple moving average of $36.49. The firm has a market capitalization of $47.37 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 4.44 and a beta of 0.48.

Analysts Set New Price Targets

Several brokerages have weighed in on JD. Mizuho lowered their target price on shares of JD.com from $50.00 to $48.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. Citigroup restated a "buy" rating and issued a $51.00 target price (down from $56.00) on shares of JD.com in a research note on Monday, April 28th. Benchmark lowered their price objective on shares of JD.com from $58.00 to $53.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Arete Research upgraded shares of JD.com to a "hold" rating in a research note on Tuesday, June 24th. Finally, Arete downgraded shares of 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. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.46.

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.