JD.com, Inc. $JD Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in JD.com, Inc. by 19.2%, selling 22,042 shares during the first quarter of the year.
• JD.com shares have experienced a 1.7% decline, with a current market cap of $43.63 billion and a recent trading price of $31.24.
• Analysts are mixed on JD.com, with target price adjustments ranging from $28.00 to $47.00 and an average rating of "Moderate Buy."

State of New Jersey Common Pension Fund D decreased its position in JD.com, Inc. (NASDAQ:JD - Free Report) by 19.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,740 shares of the information services provider's stock after selling 22,042 shares during the period. State of New Jersey Common Pension Fund D's holdings in JD.com were worth $3,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in JD. Brighton Jones LLC purchased a new stake in shares of JD.com in the fourth quarter valued at about $270,000. Raymond James Financial Inc. purchased a new stake in shares of JD.com in the fourth quarter valued at about $2,363,000. 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 valued at $801,000 after purchasing an additional 1,808 shares during the period. Mariner LLC lifted its stake in shares of JD.com by 27.4% in the fourth quarter. Mariner LLC now owns 27,934 shares of the information services provider's stock valued at $968,000 after purchasing an additional 6,005 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of JD.com by 51.2% in the fourth quarter. NewEdge Advisors LLC now owns 11,077 shares of the information services provider's stock valued at $384,000 after purchasing an additional 3,750 shares during the period. Hedge funds and other institutional investors own 15.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on JD shares. Benchmark reduced their price objective on shares of JD.com from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Wall Street Zen cut shares of JD.com from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. UBS Group reduced their price objective on shares of JD.com from $58.00 to $50.00 and set a "buy" rating for the company in a research note on Thursday, July 10th. JPMorgan Chase & Co. cut their target price on shares of JD.com from $48.00 to $42.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Finally, Citigroup began coverage on shares of JD.com in a research report on Monday, August 11th. They set a "buy" rating and a $42.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $43.31.

JD.com Trading Up 2.2%

JD.com stock traded up $0.70 during trading on Friday, reaching $31.88. The company had a trading volume of 11,991,043 shares, compared to its average volume of 9,323,250. JD.com, Inc. has a 12-month low of $25.24 and a 12-month high of $47.82. The stock's 50 day moving average price is $32.19 and its two-hundred day moving average price is $35.53. The firm has a market capitalization of $44.53 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 3.62 and a beta of 0.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.92 and a current ratio of 1.22.

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.