JPMorgan Chase & Co. Sells 3,625,068 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Key Points

• JPMorgan Chase & Co. has decreased its stake in Full Truck Alliance by 9.6%, selling over 3.6 million shares, which leaves them with around 34.25 million shares, valued at approximately $437.38 million.
• Several other institutional investors have increased their positions significantly in Full Truck Alliance, with Davis Selected Advisers raising holdings by 44.8% and NS Partners Ltd raising theirs by 754.7% in the same quarter.
• Analysts have revised their ratings for Full Truck Alliance, with JPMorgan downgrading it from "overweight" to "neutral" and setting a new price target of $10, while the consensus rating remains a "Moderate Buy" with a price target of $15.

JPMorgan Chase & Co. reduced its position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,250,299 shares of the company's stock after selling 3,625,068 shares during the quarter. JPMorgan Chase & Co. owned 3.27% of Full Truck Alliance worth $437,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Davis Selected Advisers raised its holdings in shares of Full Truck Alliance by 44.8% in the first quarter. Davis Selected Advisers now owns 7,819,344 shares of the company's stock valued at $99,853,000 after acquiring an additional 2,418,953 shares in the last quarter. Keystone Investors PTE Ltd. raised its holdings in shares of Full Truck Alliance by 406.8% in the first quarter. Keystone Investors PTE Ltd. now owns 3,000,123 shares of the company's stock valued at $38,312,000 after acquiring an additional 2,408,171 shares in the last quarter. NS Partners Ltd raised its holdings in shares of Full Truck Alliance by 754.7% in the first quarter. NS Partners Ltd now owns 1,413,600 shares of the company's stock valued at $18,052,000 after acquiring an additional 1,248,200 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Full Truck Alliance in the first quarter valued at about $351,000. Finally, Citigroup Inc. raised its holdings in shares of Full Truck Alliance by 2.8% in the first quarter. Citigroup Inc. now owns 1,079,396 shares of the company's stock valued at $13,784,000 after acquiring an additional 29,030 shares in the last quarter. 39.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $18.00 to $10.00 in a report on Monday, April 14th. Citigroup reduced their target price on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Full Truck Alliance Stock Performance

Shares of Full Truck Alliance stock opened at $11.27 on Tuesday. The company has a market capitalization of $11.79 billion, a PE ratio of 22.54 and a beta of 0.20. The company has a 50-day simple moving average of $11.97 and a two-hundred day simple moving average of $11.92. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.85 and a one year high of $13.85.

Full Truck Alliance Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.