Alkeon Capital Management LLC Raises Stock Holdings in Full Truck Alliance Co. Ltd. Sponsored ADR $YMM

Alkeon Capital Management LLC boosted its position in shares of Full Truck Alliance Co. Ltd. Sponsored ADR (NYSE:YMM) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 14,698,535 shares of the company’s stock after acquiring an additional 790,000 shares during the quarter. Alkeon Capital Management LLC’s holdings in Full Truck Alliance were worth $173,590,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lighthouse Investment Partners LLC increased its holdings in Full Truck Alliance by 316.2% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 285,207 shares of the company’s stock valued at $3,368,000 after purchasing an additional 216,675 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Full Truck Alliance in the second quarter worth $32,268,000. The Manufacturers Life Insurance Company boosted its holdings in Full Truck Alliance by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,682,427 shares of the company’s stock valued at $31,679,000 after acquiring an additional 1,184,342 shares in the last quarter. Sei Investments Co. boosted its holdings in Full Truck Alliance by 20.2% in the second quarter. Sei Investments Co. now owns 650,947 shares of the company’s stock valued at $7,688,000 after acquiring an additional 109,400 shares in the last quarter. Finally, Dymon Asia Capital Singapore PTE. LTD. increased its position in Full Truck Alliance by 106.1% during the 2nd quarter. Dymon Asia Capital Singapore PTE. LTD. now owns 266,037 shares of the company’s stock valued at $3,142,000 after purchasing an additional 136,937 shares during the period. 39.02% of the stock is owned by institutional investors.

Full Truck Alliance Price Performance

YMM stock opened at $11.75 on Friday. The stock has a market capitalization of $12.29 billion, a P/E ratio of 22.17 and a beta of 0.21. Full Truck Alliance Co. Ltd. Sponsored ADR has a 1-year low of $9.45 and a 1-year high of $14.07. The business has a fifty day moving average price of $12.12 and a 200-day moving average price of $12.25.

Analysts Set New Price Targets

YMM has been the topic of a number of research reports. Jefferies Financial Group set a $13.00 target price on shares of Full Truck Alliance in a research note on Monday, November 17th. Barclays cut their price objective on Full Truck Alliance from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Full Truck Alliance in a research report on Wednesday, October 8th. Finally, Morgan Stanley set a $14.00 target price on shares of Full Truck Alliance in a research report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Full Truck Alliance currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.43.

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.