JPMorgan Chase & Co. Reduces Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

JPMorgan Chase & Co. lessened its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,491,651 shares of the company’s stock after selling 5,031,886 shares during the quarter. JPMorgan Chase & Co.’s holdings in Full Truck Alliance were worth $247,700,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Crossmark Global Holdings Inc. bought a new stake in Full Truck Alliance during the second quarter valued at about $167,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in 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 in the last quarter. Van ECK Associates Corp lifted its holdings in Full Truck Alliance by 4.1% during the second quarter. Van ECK Associates Corp now owns 1,395,732 shares of the company’s stock valued at $11,222,000 after purchasing an additional 55,076 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Full Truck Alliance in the second quarter worth approximately $1,092,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Full Truck Alliance in the second quarter worth $6,988,000. Institutional investors own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

YMM has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Full Truck Alliance from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup upped their price target on Full Truck Alliance from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th.

Full Truck Alliance Stock Down 1.4 %

YMM opened at $10.82 on Tuesday. The company has a market capitalization of $11.40 billion, a PE ratio of 25.76 and a beta of 0.28. The firm has a 50-day simple moving average of $9.86 and a two-hundred day simple moving average of $8.70. Full Truck Alliance Co. Ltd. has a 52 week low of $5.70 and a 52 week high of $12.47.

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.