Krane Funds Advisors LLC Purchases 5,880,548 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Krane Funds Advisors LLC grew its holdings in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 26.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,165,473 shares of the company’s stock after purchasing an additional 5,880,548 shares during the period. Full Truck Alliance makes up 9.9% of Krane Funds Advisors LLC’s portfolio, making the stock its 4th biggest position. Krane Funds Advisors LLC’s holdings in Full Truck Alliance were worth $352,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Hantz Financial Services Inc. grew its holdings in shares of Full Truck Alliance by 642.0% during the second quarter. Hantz Financial Services Inc. now owns 3,784 shares of the company’s stock valued at $45,000 after buying an additional 3,274 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Full Truck Alliance by 274.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock worth $46,000 after acquiring an additional 2,845 shares during the period. Headlands Technologies LLC acquired a new stake in Full Truck Alliance during the 2nd quarter worth about $111,000. Daiwa Securities Group Inc. purchased a new position in Full Truck Alliance during the 2nd quarter valued at about $118,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Full Truck Alliance during the 3rd quarter valued at about $142,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Full Truck Alliance Stock Performance

YMM opened at $9.45 on Tuesday. The firm has a market cap of $9.88 billion, a P/E ratio of 17.83 and a beta of 0.22. The business has a 50 day moving average price of $10.30 and a 200 day moving average price of $11.65. Full Truck Alliance Co. Ltd. Sponsored ADR has a twelve month low of $9.36 and a twelve month high of $14.07.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. iA Financial set a $8.00 price target on shares of Full Truck Alliance in a research report on Monday, January 12th. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $11.00 to $8.00 in a research report on Monday, January 12th. Barclays lowered their price target on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 19th. Jefferies Financial Group set a $13.00 price objective on Full Truck Alliance in a report on Monday, November 17th. Finally, Weiss Ratings cut Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.71.

Full Truck Alliance 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.