Baker Avenue Asset Management LP Purchases 21,056 Shares of JD.com, Inc. (NASDAQ:JD)

Key Points

• Baker Avenue Asset Management LP increased its stake in JD.com by 35.1%, acquiring an additional 21,056 shares to total 81,014 shares valued at approximately $3.33 million.
• JD.com has received mixed ratings from brokerages, with an average rating of "Moderate Buy" and a consensus price target of $44.00.
• The company's current stock price is $30.91, which is below its one-year high of $47.82 and considerably above its one-year low of $24.13.

Baker Avenue Asset Management LP boosted its position in JD.com, Inc. (NASDAQ:JD - Free Report) by 35.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,014 shares of the information services provider's stock after buying an additional 21,056 shares during the period. Baker Avenue Asset Management LP's holdings in JD.com were worth $3,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of JD. Cerity Partners LLC raised its holdings in shares of JD.com by 33.1% during the first quarter. Cerity Partners LLC now owns 26,565 shares of the information services provider's stock valued at $1,092,000 after purchasing an additional 6,611 shares during the period. Temasek Holdings Private Ltd raised its holdings in shares of JD.com by 18.4% during the fourth quarter. Temasek Holdings Private Ltd now owns 4,625,490 shares of the information services provider's stock valued at $160,366,000 after purchasing an additional 718,760 shares during the period. Principal Financial Group Inc. raised its holdings in shares of JD.com by 1,724.9% during the first quarter. Principal Financial Group Inc. now owns 694,199 shares of the information services provider's stock valued at $28,545,000 after purchasing an additional 656,158 shares during the period. Spire Wealth Management raised its holdings in shares of JD.com by 706.6% during the first quarter. Spire Wealth Management now owns 8,985 shares of the information services provider's stock valued at $369,000 after purchasing an additional 7,871 shares during the period. Finally, Matthews International Capital Management LLC raised its holdings in shares of JD.com by 974.5% during the first quarter. Matthews International Capital Management LLC now owns 113,931 shares of the information services provider's stock valued at $4,685,000 after purchasing an additional 103,328 shares during the period. Institutional investors and hedge funds own 15.98% of the company's stock.

JD.com Stock Down 1.8%

Shares of JD traded down $0.58 on Friday, reaching $30.91. The company's stock had a trading volume of 11,457,444 shares, compared to its average volume of 10,329,821. JD.com, Inc. has a twelve month low of $24.13 and a twelve month high of $47.82. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average of $32.62 and a 200-day moving average of $36.39. The stock has a market capitalization of $43.17 billion, a PE ratio of 7.52 and a beta of 0.46.

Analyst Upgrades and Downgrades

JD has been the topic of several research reports. UBS Group dropped their price objective on shares of JD.com from $58.00 to $50.00 and set a "buy" rating on the stock in a report on Thursday, July 10th. Bank of America dropped their price objective on shares of JD.com from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Wall Street Zen lowered shares of JD.com from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Arete Research upgraded shares of JD.com to a "hold" rating in a report on Tuesday, June 24th. Finally, Citigroup reiterated a "buy" rating and set a $51.00 price objective (down previously from $56.00) on shares of JD.com in a report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, JD.com currently has an average rating of "Moderate Buy" and an average target price of $44.00.

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.