Muhlenkamp & Co. Inc. Acquires 106,934 Shares of JD.com, Inc. $JD

Key Points

• Muhlenkamp & Co. Inc. significantly increased its stake in JD.com by 110.4% during the first quarter, now holding 203,832 shares valued at approximately $8.4 million.
• Major investors, including Principal Financial Group and Matthews International Capital Management, have greatly expanded their positions in JD.com, indicating increased institutional interest in the stock.
• Wall Street analysts have mixed views on JD.com, with an average rating of "Moderate Buy" and a consensus price target of $43.31, reflecting varying opinions on the company's growth potential.

Muhlenkamp & Co. Inc. grew its position in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 110.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,832 shares of the information services provider's stock after purchasing an additional 106,934 shares during the quarter. JD.com makes up 2.7% of Muhlenkamp & Co. Inc.'s holdings, making the stock its 19th biggest holding. Muhlenkamp & Co. Inc.'s holdings in JD.com were worth $8,382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC acquired a new position in shares of JD.com in the fourth quarter worth approximately $270,000. Geode Capital Management LLC lifted its stake in shares of JD.com by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 404,729 shares of the information services provider's stock worth $14,032,000 after acquiring an additional 3,540 shares during the period. Cerity Partners LLC lifted its stake in shares of JD.com by 8.1% in the fourth quarter. Cerity Partners LLC now owns 19,954 shares of the information services provider's stock worth $708,000 after acquiring an additional 1,488 shares during the period. Raymond James Financial Inc. acquired a new position in shares of JD.com in the fourth quarter worth approximately $2,363,000. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of JD.com by 8.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,103 shares of the information services provider's stock worth $801,000 after acquiring an additional 1,808 shares during the period. 15.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on JD shares. Morgan Stanley cut their price objective on JD.com from $39.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Wall Street Zen lowered JD.com from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. UBS Group cut their price objective on JD.com from $58.00 to $50.00 and set a "buy" rating on the stock in a research note on Thursday, July 10th. Citigroup started coverage on JD.com in a research note on Monday, August 11th. They issued a "buy" rating and a $42.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on JD.com from $48.00 to $42.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, JD.com currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.31.

JD.com Trading Up 2.2%

JD stock traded up $0.70 during mid-day trading on Friday, reaching $31.88. The company's stock had a trading volume of 11,991,043 shares, compared to its average volume of 9,323,250. The company has a market cap of $44.53 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.54 and a beta of 0.46. The business's 50 day moving average price is $32.19 and its 200 day moving average price is $35.56. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. JD.com, Inc. has a 12 month low of $25.24 and a 12 month 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.