GF Fund Management CO. LTD. Reduces Holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

GF Fund Management CO. LTD. cut its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 947,199 shares of the company's stock after selling 584,947 shares during the quarter. GF Fund Management CO. LTD. owned 0.09% of Full Truck Alliance worth $12,096,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new position in Full Truck Alliance during the 4th quarter worth $64,000. Townsquare Capital LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter worth about $111,000. Wolverine Trading LLC acquired a new position in shares of Full Truck Alliance during the fourth quarter worth about $115,000. Vise Technologies Inc. purchased a new position in Full Truck Alliance during the fourth quarter worth about $130,000. Finally, Truist Financial Corp acquired a new stake in Full Truck Alliance in the fourth quarter valued at about $143,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

Shares of YMM remained flat at $12.08 on Friday. The company had a trading volume of 3,611,551 shares, compared to its average volume of 8,676,700. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $6.66 and a 1-year high of $13.85. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 21.19 and a beta of 0.20. The company's fifty day moving average is $11.92 and its 200-day moving average is $11.73.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Citigroup dropped their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, May 22nd. Barclays upped their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Industrial Alliance Securities set a $18.00 target price on Full Truck Alliance in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Two research 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 MarketBeat.com, Full Truck Alliance presently has a consensus rating of "Moderate Buy" and an average 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.