Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lowered its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,203,906 shares of the company’s stock after selling 288,746 shares during the period. Full Truck Alliance accounts for 2.3% of E Fund Management Co. Ltd.’s portfolio, making the stock its 9th largest position. E Fund Management Co. Ltd.’s holdings in Full Truck Alliance were worth $41,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Full Truck Alliance by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock worth $186,826,000 after acquiring an additional 170,657 shares during the period. Mubadala Investment Co PJSC grew its holdings in Full Truck Alliance by 45.7% during the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company’s stock worth $121,966,000 after acquiring an additional 5,263,157 shares during the period. Janus Henderson Group PLC grew its holdings in Full Truck Alliance by 2.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock worth $85,822,000 after acquiring an additional 317,980 shares during the period. Bamco Inc. NY grew its holdings in Full Truck Alliance by 2.3% during the 1st quarter. Bamco Inc. NY now owns 10,819,188 shares of the company’s stock worth $78,655,000 after acquiring an additional 238,622 shares during the period. Finally, Norges Bank acquired a new stake in Full Truck Alliance during the 4th quarter worth $64,936,000. Institutional investors and hedge funds own 39.02% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays lowered their target price on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Friday, August 23rd.

Full Truck Alliance Stock Up 2.7 %

Shares of YMM stock opened at $7.53 on Wednesday. Full Truck Alliance Co. Ltd. has a 12-month low of $5.70 and a 12-month high of $9.68. The firm has a market capitalization of $7.93 billion, a price-to-earnings ratio of 23.52 and a beta of 0.20. The firm has a fifty day moving average of $7.51 and a 200-day moving average of $7.94.

Full Truck Alliance (NYSE:YMM) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a net margin of 26.80% and a return on equity of 7.88%. The company had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. Research analysts expect that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current year.

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.