Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Sold by Baillie Gifford & Co.

Key Points

• Baillie Gifford & Co. reduced its stake in Full Truck Alliance Co. Ltd. by 2.1%, bringing its ownership to approximately 1.41%, valued at about $188 million.
• Wall Street analysts have mixed views on Full Truck Alliance, with Citigroup setting a price target of $16.00 and JPMorgan reducing theirs to $10.00, suggesting a cautious outlook.
• Full Truck Alliance's stock is currently trading at $11.82, with a market cap of $12.36 billion and a consensus rating of "Moderate Buy" among analysts.

Baillie Gifford & Co. reduced its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,729,137 shares of the company's stock after selling 314,560 shares during the period. Baillie Gifford & Co. owned 1.41% of Full Truck Alliance worth $188,091,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Townsquare Capital LLC bought a new position in Full Truck Alliance in the 4th quarter worth about $111,000. Wolverine Trading LLC bought a new position in Full Truck Alliance in the 4th quarter worth about $115,000. Vise Technologies Inc. bought a new position in Full Truck Alliance in the 4th quarter worth about $130,000. Jasper Ridge Partners L.P. bought a new position in Full Truck Alliance in the 4th quarter worth about $149,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Full Truck Alliance in the 1st quarter worth about $222,000. 39.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on YMM. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $18.00 to $10.00 in a research note on Monday, April 14th. Citigroup dropped 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 equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Stock Up 5.5%

Shares of NYSE YMM traded up $0.64 during midday trading on Tuesday, reaching $12.15. 7,266,930 shares of the company's stock traded hands, compared to its average volume of 8,286,171. The company has a market cap of $12.70 billion, a price-to-earnings ratio of 24.27 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.66 and a one year high of $13.85. The stock's 50 day simple moving average is $12.04 and its 200-day simple moving average is $11.91.

About Full Truck Alliance

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.