Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its stake in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 9.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 34,250,299 shares of the company’s stock after selling 3,625,068 shares during the quarter. JPMorgan Chase & Co.’s holdings in Full Truck Alliance were worth $437,376,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Full Truck Alliance by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,146 shares of the company’s stock valued at $311,000 after acquiring an additional 1,406 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Full Truck Alliance by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 85,106 shares of the company’s stock valued at $1,087,000 after acquiring an additional 1,577 shares in the last quarter. US Bancorp DE acquired a new position in shares of Full Truck Alliance during the first quarter valued at about $40,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Full Truck Alliance by 20.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 20,408 shares of the company’s stock valued at $221,000 after acquiring an additional 3,442 shares in the last quarter. Finally, LMR Partners LLP increased its holdings in shares of Full Truck Alliance by 25.4% during the fourth quarter. LMR Partners LLP now owns 27,881 shares of the company’s stock valued at $302,000 after acquiring an additional 5,646 shares in the last quarter. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Stock Down 0.5%

Shares of NYSE YMM opened at $11.27 on Tuesday. The business’s 50 day moving average price is $11.97 and its 200 day moving average price is $11.92. The firm has a market cap of $11.79 billion, a P/E ratio of 22.54 and a beta of 0.20. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $6.85 and a 52 week high of $13.85.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lowered Full Truck Alliance from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $18.00 to $10.00 in a research report on Monday, April 14th. Citigroup dropped their target price on Full Truck Alliance from $16.50 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Full Truck Alliance currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Full Truck Alliance Profile

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.