JPMorgan Chase & Co. Sells 5,031,886 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

JPMorgan Chase & Co. reduced its holdings 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 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,491,651 shares of the company’s stock after selling 5,031,886 shares during the period. JPMorgan Chase & Co. owned 2.61% of Full Truck Alliance worth $247,700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Full Truck Alliance by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 118,404 shares of the company’s stock worth $1,067,000 after purchasing an additional 4,235 shares in the last quarter. Blue Trust Inc. raised its stake in Full Truck Alliance by 109.5% during the third quarter. Blue Trust Inc. now owns 9,999 shares of the company’s stock valued at $90,000 after buying an additional 5,226 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Full Truck Alliance by 1.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 545,517 shares of the company’s stock worth $4,910,000 after acquiring an additional 5,660 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Full Truck Alliance by 29.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 25,969 shares of the company’s stock worth $209,000 after acquiring an additional 5,847 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of Full Truck Alliance by 44.1% during the third quarter. Crossmark Global Holdings Inc. now owns 30,102 shares of the company’s stock valued at $272,000 after acquiring an additional 9,210 shares in the last quarter. Hedge funds and other institutional investors own 39.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on YMM. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $12.00 to $13.00 in a research report on Wednesday, December 11th. Citigroup raised their price target on shares of 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 Stock Performance

Shares of NYSE:YMM opened at $10.82 on Tuesday. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 25.76 and a beta of 0.28. The business 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 fifty-two week low of $5.70 and a fifty-two week high of $12.47.

About Full Truck Alliance

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.