Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC trimmed its position in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM) by 99.1% during the third quarter, HoldingsChannel reports. The fund owned 233,756 shares of the company’s stock after selling 27,215,222 shares during the quarter. Full Truck Alliance comprises 1.8% of Krane Funds Advisors LLC’s holdings, making the stock its 12th biggest position. Krane Funds Advisors LLC’s holdings in Full Truck Alliance were worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Mubadala Investment Co PJSC raised its position in Full Truck Alliance by 45.7% in the first 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 in the last quarter. Sylebra Capital LLC purchased a new position in shares of Full Truck Alliance in the 1st quarter valued at about $36,877,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Full Truck Alliance in the first quarter valued at about $13,854,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Full Truck Alliance by 1,220.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock worth $15,961,000 after buying an additional 1,834,900 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Full Truck Alliance during the third quarter worth about $10,814,000. 39.02% of the stock is currently owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

Full Truck Alliance stock opened at $8.68 on Friday. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 24.80 and a beta of 0.23. Full Truck Alliance Co. Ltd. has a fifty-two week low of $5.70 and a fifty-two week high of $10.29. The stock’s fifty day moving average is $8.03 and its two-hundred day moving average is $8.21.

Full Truck Alliance (NYSE:YMM) last announced its earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $369.24 million. As a group, sell-side analysts forecast that Full Truck Alliance Co. Ltd. will post 0.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Barclays dropped 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 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.