JPMorgan Chase & Co. Sells 7,337,066 Shares of Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

JPMorgan Chase & Co. cut its stake in Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 24.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,019,709 shares of the company’s stock after selling 7,337,066 shares during the period. JPMorgan Chase & Co.’s holdings in Full Truck Alliance were worth $298,566,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Full Truck Alliance during the second quarter valued at about $134,623,000. Aspex Management HK Ltd raised its holdings in Full Truck Alliance by 47.7% in the 2nd quarter. Aspex Management HK Ltd now owns 22,455,623 shares of the company’s stock valued at $265,201,000 after acquiring an additional 7,246,996 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Full Truck Alliance in the 2nd quarter worth approximately $84,428,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Full Truck Alliance by 76.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 10,647,830 shares of the company’s stock worth $138,102,000 after purchasing an additional 4,611,050 shares in the last quarter. Finally, Alpine Investment Management Ltd bought a new stake in shares of Full Truck Alliance during the second quarter valued at approximately $54,303,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Trading Down 0.6%

NYSE YMM opened at $9.55 on Friday. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $9.39 and a 1-year high of $14.07. The company has a 50 day moving average of $10.38 and a 200-day moving average of $11.67. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 18.02 and a beta of 0.22.

Analyst Ratings Changes

Several brokerages recently commented on YMM. iA Financial set a $8.00 target price on Full Truck Alliance in a research report on Monday, January 12th. Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a research report on Monday, November 17th. Barclays lowered their target price on shares of Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 19th. Weiss Ratings cut shares of Full Truck Alliance from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 13th. Finally, Jefferies Financial Group set a $13.00 price objective on Full Truck Alliance in a research note on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.71.

About Full Truck Alliance

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.