26,510 Shares in Full Truck Alliance Co. Ltd. (NYSE:YMM) Bought by Summit Global Investments

Summit Global Investments purchased a new position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 26,510 shares of the company's stock, valued at approximately $339,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. FIL Ltd grew 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. lifted its holdings in shares of Full Truck Alliance by 37.8% during the 4th quarter. JPMorgan Chase & Co. now owns 37,875,367 shares of the company's stock worth $409,811,000 after acquiring an additional 10,383,716 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Full Truck Alliance by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 28,943,043 shares of the company's stock worth $313,164,000 after acquiring an additional 295,301 shares during the period. Greenwoods Asset Management Hong Kong Ltd. lifted its holdings in shares of Full Truck Alliance by 7.4% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 26,019,803 shares of the company's stock worth $281,534,000 after acquiring an additional 1,802,420 shares during the period. Finally, Aspex Management HK Ltd bought a new position in shares of Full Truck Alliance during the 4th quarter worth about $164,557,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on YMM. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $18.00 to $10.00 in a report on Monday, April 14th. Hsbc Global Res upgraded shares of Full Truck Alliance to a "strong-buy" rating in a research report on Wednesday, February 26th. Industrial Alliance Securities set a $18.00 price target on Full Truck Alliance in a research report on Thursday, March 6th. Barclays lifted their price objective on Full Truck Alliance from $7.00 to $13.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, HSBC initiated coverage on shares of Full Truck Alliance in a report on Wednesday, February 26th. They set a "buy" rating and a $18.00 target price on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.00.

Full Truck Alliance Trading Up 3.2%

Shares of YMM stock traded up $0.39 on Thursday, hitting $12.39. 9,826,590 shares of the stock were exchanged, compared to its average volume of 8,920,916. The business has a 50-day moving average of $11.42 and a 200 day moving average of $11.51. Full Truck Alliance Co. Ltd. has a fifty-two week low of $6.66 and a fifty-two week high of $13.85. The firm has a market capitalization of $12.95 billion, a P/E ratio of 29.49 and a beta of 0.20.

About Full Truck Alliance

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.