LGT Fund Management Co Ltd. Decreases Stock Holdings in JD.com, Inc. (NASDAQ:JD)

Key Points

• LGT Fund Management Co Ltd. reduced its stake in JD.com, Inc. by 41.2%, selling 11,321 shares during the first quarter, leaving them with 16,179 shares valued at approximately $665,000.
• Several institutional investors have adjusted their positions, with CoreView Capital Management increasing its holdings by 204.8% in the fourth quarter, now owning over 6.3 million shares worth $221.9 million.
• Brokerage firms have lowered their target prices for JD.com stock, with Morgan Stanley reducing it from $39 to $28, while Citigroup initiated coverage with a buy rating and a price objective of $42.

LGT Fund Management Co Ltd. trimmed its position in JD.com, Inc. (NASDAQ:JD - Free Report) by 41.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,179 shares of the information services provider's stock after selling 11,321 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in JD.com were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC acquired a new stake in shares of JD.com in the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of JD.com in the 1st quarter valued at $32,000. GeoWealth Management LLC grew its position in shares of JD.com by 129.1% in the 4th quarter. GeoWealth Management LLC now owns 1,393 shares of the information services provider's stock valued at $48,000 after buying an additional 785 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of JD.com in the 1st quarter valued at $56,000. Finally, Farther Finance Advisors LLC grew its position in shares of JD.com by 23.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,605 shares of the information services provider's stock valued at $66,000 after buying an additional 308 shares during the last quarter. 15.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Mizuho dropped their target price on shares of JD.com from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Macquarie reaffirmed a "neutral" rating and issued a $35.00 target price on shares of JD.com in a research report on Wednesday, April 23rd. Arete downgraded shares of JD.com from a "buy" rating to a "neutral" rating and set a $45.00 target price on the stock. in a research report on Tuesday, June 24th. Susquehanna dropped their target price on shares of JD.com from $45.00 to $40.00 and set a "neutral" rating on the stock in a research report on Thursday, May 15th. Finally, Benchmark lowered their price objective on shares of JD.com from $53.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.31.

JD.com Stock Performance

Shares of NASDAQ:JD traded up $0.12 during midday trading on Friday, hitting $31.70. The stock had a trading volume of 14,033,099 shares, compared to its average volume of 12,477,466. The company has a market capitalization of $44.27 billion, a PE ratio of 7.71, a P/E/G ratio of 4.24 and a beta of 0.46. The stock has a 50 day moving average price of $32.43 and a two-hundred day moving average price of $35.95. The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. JD.com, Inc. has a 1 year low of $25.24 and a 1 year high of $47.82.

About JD.com

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.