Veritas Asset Management LLP Lowers Holdings in JD.com, Inc. (NASDAQ:JD)

Veritas Asset Management LLP reduced its stake in shares of JD.com, Inc. (NASDAQ:JD) by 96.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,099 shares of the information services provider’s stock after selling 716,956 shares during the period. Veritas Asset Management LLP’s holdings in JD.com were worth $836,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Richardson Financial Services Inc. acquired a new position in JD.com in the 4th quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in JD.com in the 4th quarter valued at about $34,000. Nisa Investment Advisors LLC raised its stake in JD.com by 71.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 417 shares during the last quarter. Modus Advisors LLC acquired a new position in shares of JD.com during the 4th quarter valued at about $41,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of JD.com during the 3rd quarter valued at about $49,000. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

JD.com Stock Down 7.3 %

JD opened at $39.31 on Tuesday. JD.com, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $47.82. The business has a 50-day moving average of $37.94 and a 200-day moving average of $35.91. 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 company has a market capitalization of $62.00 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.31 and a beta of 0.40.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on JD shares. Citigroup dropped their price objective on shares of JD.com from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Benchmark restated a “buy” rating and issued a $47.00 price target on shares of JD.com in a report on Friday, November 15th. Dbs Bank upgraded JD.com to a “strong-buy” rating in a report on Wednesday, February 12th. Sanford C. Bernstein upgraded JD.com from a “market perform” rating to an “outperform” rating and increased their target price for the company from $43.00 to $46.00 in a research note on Monday, December 9th. Finally, StockNews.com cut JD.com from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.36.

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.