Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Bought by Prudential PLC

Key Points

• Prudential PLC significantly increased its stake in Full Truck Alliance Co. Ltd. Sponsored ADR, acquiring 57,532 additional shares for a total of 81,831 shares, worth approximately $1,045,000.
• Full Truck Alliance shares are currently valued at $11.04, showing a thirty-day price increase of 2.5%, with a fifty-two week high of $13.85.
• Analysts have given Full Truck Alliance a Moderate Buy rating, with a revised price target of $16.00 from Citigroup, down from $16.50.

Prudential PLC grew its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 236.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,831 shares of the company's stock after acquiring an additional 57,532 shares during the quarter. Prudential PLC's holdings in Full Truck Alliance were worth $1,045,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of YMM. Atlas Capital Advisors Inc. acquired a new position in shares of Full Truck Alliance during the first quarter valued at $29,000. US Bancorp DE acquired a new position in shares of Full Truck Alliance during the first quarter valued at $40,000. Townsquare Capital LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at $115,000. Finally, Vise Technologies Inc. acquired a new position in shares of Full Truck Alliance during the fourth quarter valued at $130,000. Institutional investors and hedge funds own 39.02% of the company's stock.

Full Truck Alliance Stock Up 2.5%

Shares of NYSE YMM opened at $11.04 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a fifty-two week low of $6.85 and a fifty-two week high of $13.85. The firm's 50-day simple moving average is $11.90 and its 200 day simple moving average is $11.90. The stock has a market cap of $11.55 billion, a P/E ratio of 22.08 and a beta of 0.20.

Wall Street Analysts Forecast Growth

Separately, Citigroup cut their price objective on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance has an average rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Profile

Full Truck Alliance Co Ltd., together with its subsidiaries, operates a digital freight platform that connects shippers with truckers to facilitate shipments across distance ranges, cargo weights, and types in the People's Republic of China. The company offers freight matching services, such as freight listing and brokerage services; and online transaction services, as well as various value-added services, such as credit solutions, insurance brokerage, software solutions, electronic toll collection, and energy services.

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