Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Purchased by Keystone Investors PTE Ltd.

Key Points

• Keystone Investors PTE Ltd. increased its stake in Full Truck Alliance Co. Ltd. by 406.8%, acquiring 2,408,171 additional shares, making it the 8th largest holding in their portfolio.
• Analysts have mixed ratings on Full Truck Alliance, with Citigroup lowering their target price from $16.50 to $16.00 while JPMorgan cut their price target from $18.00 to $10.00, resulting in a consensus price target of $15.00.
• As of the last quarter, 39.02% of Full Truck Alliance's stock is owned by institutional investors, indicating strong institutional support.

Keystone Investors PTE Ltd. lifted its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 406.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,000,123 shares of the company's stock after purchasing an additional 2,408,171 shares during the period. Full Truck Alliance comprises 5.4% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its 8th biggest position. Keystone Investors PTE Ltd. owned about 0.29% of Full Truck Alliance worth $38,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Full Truck Alliance by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,373,877 shares of the company's stock valued at $375,104,000 after purchasing an additional 430,834 shares during the last quarter. Krane Funds Advisors LLC boosted its holdings in Full Truck Alliance by 23.2% in the 1st quarter. Krane Funds Advisors LLC now owns 26,207,165 shares of the company's stock valued at $334,665,000 after purchasing an additional 4,931,028 shares during the last quarter. Aspex Management HK Ltd acquired a new position in Full Truck Alliance in the 4th quarter valued at about $164,557,000. Sylebra Capital LLC boosted its holdings in Full Truck Alliance by 64.3% in the 4th quarter. Sylebra Capital LLC now owns 10,693,280 shares of the company's stock valued at $115,701,000 after purchasing an additional 4,184,065 shares during the last quarter. Finally, Pinpoint Asset Management Ltd boosted its holdings in Full Truck Alliance by 23.0% in the 1st quarter. Pinpoint Asset Management Ltd now owns 7,735,913 shares of the company's stock valued at $98,788,000 after purchasing an additional 1,448,760 shares during the last quarter. Hedge funds and other institutional investors own 39.02% of the company's stock.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM traded up $0.14 during trading hours on Tuesday, reaching $11.40. The stock had a trading volume of 4,015,163 shares, compared to its average volume of 8,706,822. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1 year low of $6.85 and a 1 year high of $13.85. The firm's 50 day moving average is $11.97 and its 200-day moving average is $11.92. The stock has a market capitalization of $11.92 billion, a price-to-earnings ratio of 22.81 and a beta of 0.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Citigroup reduced their price target on shares of Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Two research 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.