Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Acquired by State Street Corp

State Street Corp boosted its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 6.4% during the 3rd quarter, Holdings Channel reports. The fund owned 2,609,508 shares of the company’s stock after acquiring an additional 155,834 shares during the quarter. State Street Corp’s holdings in Full Truck Alliance were worth $23,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Liontrust Investment Partners LLP acquired a new position in shares of Full Truck Alliance during the second quarter valued at $5,869,000. Atomi Financial Group Inc. grew its position in Full Truck Alliance by 12.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 12,052 shares of the company’s stock valued at $97,000 after buying an additional 1,329 shares in the last quarter. Tobam acquired a new position in Full Truck Alliance during the 2nd quarter valued at about $35,000. Crossmark Global Holdings Inc. bought a new stake in shares of Full Truck Alliance during the 2nd quarter worth about $167,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Full Truck Alliance by 50.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,000 shares of the company’s stock worth $241,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 39.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on YMM. JPMorgan Chase & Co. lowered shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th. Citigroup lifted their price target on Full Truck Alliance from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th.

Full Truck Alliance Price Performance

Shares of YMM opened at $11.32 on Monday. The firm’s 50 day moving average is $9.64 and its 200-day moving average is $8.62. Full Truck Alliance Co. Ltd. has a 12-month low of $5.70 and a 12-month high of $12.47. The stock has a market capitalization of $11.93 billion, a P/E ratio of 26.95 and a beta of 0.28.

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.