JD.com (NASDAQ:JD) Shares Down 3.6% – Here’s What Happened

JD.com, Inc. (NASDAQ:JD)’s stock price dropped 3.6% on Wednesday . The company traded as low as $35.75 and last traded at $35.75. Approximately 1,584,517 shares changed hands during trading, a decline of 89% from the average daily volume of 14,690,382 shares. The stock had previously closed at $37.10.

Wall Street Analysts Forecast Growth

JD has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of JD.com from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Barclays raised their target price on shares of JD.com from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Sanford C. Bernstein lowered their price target on shares of JD.com from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Susquehanna reiterated a “neutral” rating and issued a $28.00 target price on shares of JD.com in a research note on Monday, August 19th. Finally, Benchmark restated a “buy” rating and set a $47.00 price objective on shares of JD.com in a research note on Friday, November 15th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, JD.com currently has a consensus rating of “Moderate Buy” and an average price target of $40.36.

JD.com Price Performance

The stock’s fifty day moving average price is $39.34 and its 200-day moving average price is $31.80. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.17 and a quick ratio of 0.90. The firm has a market cap of $56.11 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 0.31 and a beta of 0.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank increased its stake in JD.com by 32.1% during the third quarter. Huntington National Bank now owns 1,861 shares of the information services provider’s stock worth $74,000 after purchasing an additional 452 shares during the period. SRN Advisors LLC grew its position in JD.com by 1.6% in the 3rd quarter. SRN Advisors LLC now owns 32,200 shares of the information services provider’s stock valued at $1,288,000 after buying an additional 516 shares during the last quarter. Panagora Asset Management Inc. grew its position in JD.com by 2.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 26,143 shares of the information services provider’s stock valued at $676,000 after buying an additional 719 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of JD.com by 4.8% during the 2nd quarter. V Square Quantitative Management LLC now owns 17,303 shares of the information services provider’s stock worth $447,000 after purchasing an additional 797 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC raised its stake in shares of JD.com by 4.0% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 21,230 shares of the information services provider’s stock worth $849,000 after buying an additional 820 shares during the last quarter. Institutional investors and hedge funds own 15.98% of the company’s stock.

About JD.com

JD.com, Inc operates as a supply chain-based technology and service provider in the People's Republic of China. The company offers computers, communication, and consumer electronics products, as well as home appliances; and general merchandise products comprising food, beverage and fresh produce, baby and maternity products, furniture and household goods, cosmetics and other personal care items, pharmaceutical and healthcare products, industrial products, books, automobile accessories, apparel and footwear, bags, and jewelry.