Full Truck Alliance Co. Ltd. Sponsored ADR $YMM Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its stake in Full Truck Alliance Co. Ltd. by 1.5%, owning approximately 2.81% of the company, valued at $375 million.
• Citigroup reduced its price target for Full Truck Alliance from $16.50 to $16.00 while maintaining a "buy" rating, with a consensus price target of $15.00 among analysts.
• Full Truck Alliance's stock was trading at $11.04, with a one-year price range between $6.85 and $13.85 and a market cap of approximately $11.55 billion.

Vanguard Group Inc. grew its holdings in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 1.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,373,877 shares of the company's stock after buying an additional 430,834 shares during the period. Vanguard Group Inc. owned 2.81% of Full Truck Alliance worth $375,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Atria Wealth Solutions Inc. purchased a new stake in Full Truck Alliance during the 1st quarter worth about $212,000. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Full Truck Alliance by 1.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 712,986 shares of the company's stock valued at $9,105,000 after purchasing an additional 8,042 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Full Truck Alliance by 14.0% in the 1st quarter. Alberta Investment Management Corp now owns 2,381,411 shares of the company's stock valued at $30,411,000 after purchasing an additional 292,244 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Full Truck Alliance in the 1st quarter valued at about $40,000. Finally, Bayforest Capital Ltd lifted its holdings in shares of Full Truck Alliance by 51.9% in the 1st quarter. Bayforest Capital Ltd now owns 43,607 shares of the company's stock valued at $557,000 after purchasing an additional 14,908 shares during the last quarter. 39.02% of the stock is owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

NYSE:YMM traded up $1.1450 during trading hours on Thursday, reaching $12.1550. 31,590,604 shares of the company traded hands, compared to its average volume of 13,939,718. The firm's 50-day moving average is $11.81 and its 200-day moving average is $11.90. The stock has a market cap of $12.71 billion, a P/E ratio of 24.31 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $6.85 and a 1-year high of $13.85.

Analyst Ratings Changes

Separately, Citigroup reduced their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

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.