Perpetual Ltd Has $25.05 Million Stock Position in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM)

Perpetual Ltd lifted its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM - Free Report) by 9.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,961,428 shares of the company's stock after acquiring an additional 174,459 shares during the quarter. Perpetual Ltd owned approximately 0.19% of Full Truck Alliance worth $25,047,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. FIL Ltd increased its position in Full Truck Alliance by 83.0% in the 4th quarter. FIL Ltd now owns 51,730,620 shares of the company's stock worth $559,725,000 after purchasing an additional 23,468,794 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Full Truck Alliance by 37.8% in the fourth quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock worth $409,811,000 after buying an additional 10,383,716 shares during the last quarter. Vanguard Group Inc. increased its holdings in Full Truck Alliance by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after buying an additional 295,301 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. raised its position in Full Truck Alliance by 7.4% during the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company's stock valued at $281,534,000 after acquiring an additional 1,802,420 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new position in Full Truck Alliance during the fourth quarter valued at approximately $164,557,000. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Price Performance

Shares of NYSE YMM traded up $0.05 during trading hours on Friday, hitting $11.79. 3,113,466 shares of the stock were exchanged, compared to its average volume of 8,744,813. Full Truck Alliance Co. Ltd. Sponsored ADR has a one year low of $6.66 and a one year high of $13.85. The company's 50 day moving average is $11.80 and its 200 day moving average is $11.71. The firm has a market capitalization of $12.33 billion, a P/E ratio of 23.57 and a beta of 0.20.

Wall Street Analysts Forecast Growth

Several research firms have commented on YMM. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $18.00 to $10.00 in a research report on Monday, April 14th. Industrial Alliance Securities set a $18.00 price objective on shares of Full Truck Alliance in a report on Thursday, March 6th. Citigroup cut their target price on Full Truck Alliance from $16.50 to $16.00 and set a "buy" rating on the stock in a report on Thursday, May 22nd. Finally, Barclays boosted their price target on Full Truck Alliance from $7.00 to $13.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

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.