Nordea Investment Management AB Takes Position in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Nordea Investment Management AB acquired a new position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,699,440 shares of the company’s stock, valued at approximately $22,237,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC boosted its position in shares of Full Truck Alliance by 0.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 248,174 shares of the company’s stock valued at $3,219,000 after acquiring an additional 1,410 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Full Truck Alliance by 9.0% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,314 shares of the company’s stock worth $311,000 after purchasing an additional 2,168 shares during the last quarter. Parnassus Investments LLC raised its stake in Full Truck Alliance by 12.1% during the third quarter. Parnassus Investments LLC now owns 21,547 shares of the company’s stock worth $279,000 after purchasing an additional 2,333 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Full Truck Alliance by 274.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,880 shares of the company’s stock valued at $46,000 after purchasing an additional 2,845 shares during the last quarter. Finally, Hantz Financial Services Inc. grew its stake 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 valued at $45,000 after buying an additional 3,274 shares during the period. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Down 1.0%

NYSE:YMM opened at $9.79 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 52 week low of $9.45 and a 52 week high of $14.07. The stock’s fifty day moving average is $11.21 and its two-hundred day moving average is $12.06. The stock has a market capitalization of $10.23 billion, a price-to-earnings ratio of 18.46 and a beta of 0.22.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on YMM. Barclays reduced 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 research report on Wednesday, November 19th. Industrial Alliance Securities set a $8.00 target price on Full Truck Alliance in a research report on Monday. JPMorgan Chase & Co. lowered Full Truck Alliance from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $11.00 to $8.00 in a research note on Monday. Morgan Stanley set a $14.00 price objective on Full Truck Alliance in a research report on Monday, November 17th. Finally, Jefferies Financial Group set a $13.00 price objective on shares of Full Truck Alliance in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.