Envestnet Asset Management Inc. Purchases 62,864 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Envestnet Asset Management Inc. lifted its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 57.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 172,472 shares of the company’s stock after purchasing an additional 62,864 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Full Truck Alliance were worth $2,237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of YMM. Hantz Financial Services Inc. lifted its holdings in shares of Full Truck Alliance by 642.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company’s stock worth $45,000 after acquiring an additional 3,274 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Full Truck Alliance by 274.9% in the second quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock worth $46,000 after purchasing an additional 2,845 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Full Truck Alliance during the second quarter valued at about $111,000. Daiwa Securities Group Inc. bought a new position in shares of Full Truck Alliance during the second quarter valued at about $118,000. Finally, Vise Technologies Inc. bought a new position in shares of Full Truck Alliance during the second quarter valued at about $160,000. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings downgraded Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $11.00 to $8.00 in a report on Monday, January 12th. Morgan Stanley set a $14.00 price target on shares of Full Truck Alliance in a research report on Monday, November 17th. iA Financial set a $8.00 price objective on shares of Full Truck Alliance in a research report on Monday, January 12th. Finally, Barclays dropped their target price on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.83.

Full Truck Alliance Trading Down 1.4%

Shares of YMM opened at $9.40 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $9.36 and a 1-year high of $14.07. The firm’s 50-day moving average price is $10.16 and its 200-day moving average price is $11.60. The firm has a market capitalization of $9.83 billion, a price-to-earnings ratio of 17.73 and a beta of 0.22.

Full Truck Alliance Company Profile

Full Truck Alliance (NYSE: YMM) operates a leading digital freight platform in China, connecting shippers with a vast network of independent truck drivers. The company’s core offering centers on load matching, enabling cargo owners to find suitable carriers quickly through a mobile and web-based interface. By streamlining the booking process, Full Truck Alliance helps reduce downtime and improves overall asset utilization for both shippers and drivers.

The platform features real-time route optimization, electronic waybills, digital payment solutions and in-app communication tools.