JD.com (NASDAQ:JD) Stock Price Down 3.3% - Here's What Happened

Shares of JD.com, Inc. (NASDAQ:JD - Get Free Report) fell 3.3% during trading on Wednesday . The company traded as low as $31.53 and last traded at $31.64. 3,816,904 shares traded hands during trading, a decline of 73% from the average session volume of 13,913,891 shares. The stock had previously closed at $32.70.

Analysts Set New Price Targets

A number of brokerages have commented on JD. Morgan Stanley reduced their target price on shares of JD.com from $39.00 to $28.00 and set an "equal weight" rating on the stock in a research note on Thursday. Benchmark reduced their target price on shares of JD.com from $58.00 to $53.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of JD.com from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Susquehanna reduced their target price on shares of JD.com from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Thursday, May 15th. Finally, Macquarie reissued a "neutral" rating and issued a $35.00 price target on shares of JD.com in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $45.31.

JD.com Stock Performance

The company has a current ratio of 1.26, a quick ratio of 0.92 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $49.10 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.48. The stock's fifty day simple moving average is $33.22 and its 200-day simple moving average is $36.64.

Institutional Investors Weigh In On JD.com

Institutional investors have recently modified their holdings of the company. Hexagon Capital Partners LLC purchased a new stake in shares of JD.com in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of JD.com during the first quarter worth about $32,000. Farther Finance Advisors LLC increased its stake in shares of JD.com by 111.6% during the fourth quarter. Farther Finance Advisors LLC now owns 1,297 shares of the information services provider's stock worth $45,000 after acquiring an additional 684 shares during the period. GeoWealth Management LLC increased its stake in shares of JD.com by 129.1% during the fourth quarter. GeoWealth Management LLC now owns 1,393 shares of the information services provider's stock worth $48,000 after acquiring an additional 785 shares during the period. Finally, Allianz SE acquired a new position in shares of JD.com during the fourth quarter worth about $52,000. 15.98% of the stock is owned by hedge funds and other institutional investors.

JD.com Company Profile

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.