Full Truck Alliance Co. Ltd. (NYSE:YMM) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 0.3% during the second quarter, Holdings Channel.com reports. The fund owned 15,417,727 shares of the company’s stock after selling 42,029 shares during the period. Baillie Gifford & Co.’s holdings in Full Truck Alliance were worth $123,959,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. acquired a new position in shares of Full Truck Alliance in the first quarter worth $13,854,000. Janus Henderson Group PLC raised its stake in Full Truck Alliance by 2.8% in the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company’s stock valued at $85,822,000 after purchasing an additional 317,980 shares during the last quarter. Mubadala Investment Co PJSC acquired a new position in Full Truck Alliance in the 4th quarter valued at about $80,709,000. Vanguard Group Inc. lifted its holdings in Full Truck Alliance by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company’s stock valued at $186,826,000 after purchasing an additional 170,657 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Full Truck Alliance by 34.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,471 shares of the company’s stock worth $98,000 after purchasing an additional 3,421 shares during the last quarter. 39.02% of the stock is currently owned by hedge funds and other institutional investors.

Full Truck Alliance Stock Down 0.9 %

YMM traded down $0.07 during midday trading on Friday, hitting $7.53. The company’s stock had a trading volume of 5,908,062 shares, compared to its average volume of 6,505,125. Full Truck Alliance Co. Ltd. has a 52-week low of $5.70 and a 52-week high of $9.68. The firm has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $7.83.

Analysts Set New Price Targets

A number of research firms have recently weighed in on YMM. Barclays cut their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Friday. Daiwa America upgraded Full Truck Alliance to a “strong-buy” rating in a report on Friday, May 10th.

Full Truck Alliance Company 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.