Krane Funds Advisors LLC Acquires 4,931,028 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Krane Funds Advisors LLC raised its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,207,165 shares of the company's stock after acquiring an additional 4,931,028 shares during the quarter. Full Truck Alliance comprises 9.6% of Krane Funds Advisors LLC's holdings, making the stock its 4th largest position. Krane Funds Advisors LLC owned 2.49% of Full Truck Alliance worth $334,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC lifted its holdings in shares of Full Truck Alliance by 39.2% during the first quarter. WCM Investment Management LLC now owns 27,035 shares of the company's stock worth $349,000 after purchasing an additional 7,610 shares during the period. WT Asset Management Ltd grew its position in Full Truck Alliance by 25.1% in the 1st quarter. WT Asset Management Ltd now owns 698,939 shares of the company's stock worth $8,925,000 after purchasing an additional 140,139 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Full Truck Alliance by 6.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company's stock valued at $311,000 after acquiring an additional 1,406 shares during the last quarter. Diversified Trust Co purchased a new position in Full Truck Alliance in the first quarter valued at about $589,000. Finally, Perpetual Ltd lifted its stake in shares of Full Truck Alliance by 9.8% during the 1st quarter. Perpetual Ltd now owns 1,961,428 shares of the company's stock valued at $25,047,000 after buying an additional 174,459 shares in the last quarter. 39.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on YMM. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $18.00 to $10.00 in a research note on Monday, April 14th. Citigroup lowered 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. Finally, Barclays boosted their price objective on shares of Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Full Truck Alliance Stock Performance

Shares of NYSE:YMM remained flat at $12.08 during midday trading on Friday. 3,611,551 shares of the stock traded hands, compared to its average volume of 8,664,066. The business's 50-day moving average is $11.94 and its 200 day moving average is $11.75. Full Truck Alliance Co. Ltd. Sponsored ADR has a 12-month low of $6.66 and a 12-month high of $13.85. The stock has a market cap of $12.63 billion, a P/E ratio of 24.16 and a beta of 0.20.

Full Truck Alliance 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.