abrdn plc Has $246,000 Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

abrdn plc raised its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 22.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 22,705 shares of the company’s stock after acquiring an additional 4,187 shares during the quarter. abrdn plc’s holdings in Full Truck Alliance were worth $246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in YMM. Empower Harvest Management Services Inc. acquired a new stake in shares of Full Truck Alliance in the fourth quarter valued at about $97,058,000. Union Bancaire Privee UBP SA acquired a new position in shares of Full Truck Alliance during the 4th quarter worth approximately $647,000. Blue Trust Inc. raised its stake in shares of Full Truck Alliance by 120.9% during the 4th quarter. Blue Trust Inc. now owns 22,090 shares of the company’s stock worth $239,000 after purchasing an additional 12,091 shares in the last quarter. Maple Brown Abbott Ltd boosted its holdings in shares of Full Truck Alliance by 104.8% in the 4th quarter. Maple Brown Abbott Ltd now owns 117,472 shares of the company’s stock valued at $1,271,000 after buying an additional 60,100 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in shares of Full Truck Alliance in the fourth quarter valued at $2,511,000. 39.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Citigroup increased 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 note on Tuesday, December 10th. JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an “overweight” rating to a “neutral” rating and raised their target price for the company from $12.00 to $13.00 in a research note on Wednesday, December 11th.

Full Truck Alliance Price Performance

Shares of Full Truck Alliance stock opened at $12.22 on Wednesday. The business has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $9.36. Full Truck Alliance Co. Ltd. has a 1 year low of $5.70 and a 1 year high of $12.88. The company has a market capitalization of $12.88 billion, a price-to-earnings ratio of 29.10 and a beta of 0.25.

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.