Sumitomo Mitsui Trust Group Inc. Makes New $6.08 Million Investment in WeRide Inc. $WRD

Key Points

• Sumitomo Mitsui Trust Group bought a new position of 700,340 WeRide shares in Q4 valued at about $6.08 million, representing roughly 0.22% of the company at quarter-end.
• Several other institutions also built or expanded stakes—MIRAE Asset now holds about 4.62 million shares (~$45.8M) and Marshall Wace increased its position to 2,055,370 shares after a 4,869.5% rise—indicating growing institutional interest.
• WeRide reported a Q result of ($0.24) EPS on $44.9M revenue with negative margins and ROE, while analysts average a Moderate Buy rating and $12.48 price target on the stock (market cap ~$2.61B).

Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of WeRide Inc. (NASDAQ:WRD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 700,340 shares of the company's stock, valued at approximately $6,079,000. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of WeRide at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in WeRide by 55.3% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,621,712 shares of the company's stock worth $45,770,000 after acquiring an additional 1,645,769 shares during the period. Greenwoods Asset Management Hong Kong Ltd. purchased a new position in WeRide during the 3rd quarter valued at about $26,574,000. Mercer Global Advisors Inc. ADV purchased a new position in WeRide during the 3rd quarter valued at about $25,931,000. Marshall Wace LLP raised its holdings in shares of WeRide by 4,869.5% in the 3rd quarter. Marshall Wace LLP now owns 2,055,370 shares of the company's stock valued at $20,348,000 after purchasing an additional 2,014,010 shares in the last quarter. Finally, Carrhae Capital LLP bought a new stake in shares of WeRide in the 3rd quarter valued at about $16,153,000.

WeRide Stock Performance

WRD stock opened at $8.21 on Friday. WeRide Inc. has a one year low of $6.01 and a one year high of $12.55. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -10.95 and a beta of 2.95. The firm has a 50-day simple moving average of $7.25 and a two-hundred day simple moving average of $8.48.

WeRide (NASDAQ:WRD - Get Free Report) last issued its quarterly earnings data on Monday, March 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $44.88 million during the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%. As a group, equities analysts predict that WeRide Inc. will post -0.68 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. CLSA assumed coverage on shares of WeRide in a research note on Monday, January 5th. They set an "outperform" rating and a $13.00 price objective on the stock. Citigroup reissued a "buy" rating on shares of WeRide in a research note on Monday, January 19th. Weiss Ratings restated a "sell (d-)" rating on shares of WeRide in a report on Friday, March 27th. The Goldman Sachs Group began coverage on WeRide in a research report on Thursday. They set a "buy" rating on the stock. Finally, BNP Paribas Exane began coverage on WeRide in a report on Thursday, March 26th. They issued an "outperform" rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $12.48.

WeRide Company Profile

WeRide Inc NASDAQ: WRD is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company's full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.

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