Ritholtz Wealth Management Cuts Position in JD.com, Inc. $JD

Key Points

• Ritholtz Wealth Management reduced its stake in JD.com by 13.3% during Q2, lowering its holdings to 86,262 shares valued at $2.8 million.
• Several hedge funds increased their positions in JD.com, with Harbour Investments Inc. raising its holdings by 57.2% and Bayforest Capital Ltd by 177.1% during the same quarter.
• JD.com has received mixed ratings from analysts, with a consensus of "Moderate Buy" and a price target averaging $42.86.

Ritholtz Wealth Management reduced its stake in shares of JD.com, Inc. (NASDAQ:JD - Free Report) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 86,262 shares of the information services provider's stock after selling 13,253 shares during the quarter. Ritholtz Wealth Management's holdings in JD.com were worth $2,816,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Harbour Investments Inc. raised its holdings in shares of JD.com by 57.2% during the 2nd quarter. Harbour Investments Inc. now owns 4,276 shares of the information services provider's stock valued at $140,000 after buying an additional 1,556 shares during the period. Bayforest Capital Ltd raised its holdings in shares of JD.com by 177.1% during the 2nd quarter. Bayforest Capital Ltd now owns 16,868 shares of the information services provider's stock valued at $551,000 after buying an additional 10,781 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of JD.com by 31.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,152 shares of the information services provider's stock valued at $429,000 after buying an additional 3,129 shares during the period. Yousif Capital Management LLC raised its holdings in shares of JD.com by 4.6% during the 2nd quarter. Yousif Capital Management LLC now owns 22,310 shares of the information services provider's stock valued at $728,000 after buying an additional 985 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of JD.com by 8.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,605 shares of the information services provider's stock valued at $216,000 after buying an additional 540 shares during the period. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JD shares. Benchmark dropped their target price on JD.com from $53.00 to $47.00 and set a "buy" rating on the stock in a report on Monday, July 21st. Citigroup began coverage on JD.com in a research note on Monday, August 11th. They set a "buy" rating and a $42.00 price objective for the company. Bank of America lowered their price objective on JD.com from $44.00 to $37.00 and set a "buy" rating for the company in a research note on Monday, July 14th. Zacks Research upgraded JD.com from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Morgan Stanley lowered their price objective on JD.com from $39.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.86.

JD.com Price Performance

Shares of JD opened at $33.14 on Thursday. The firm has a market cap of $47.47 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 3.59 and a beta of 0.39. The stock has a 50 day moving average of $33.09 and a 200-day moving average of $33.45. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 0.19. JD.com, Inc. has a 52 week low of $29.90 and a 52 week high of $46.44.

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.

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