Sumitomo Mitsui Trust Group Inc. Purchases 1,605,657 Shares of WeRide Inc. $WRD

Sumitomo Mitsui Trust Group Inc. grew its position in shares of WeRide Inc. (NASDAQ:WRD) by 229.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,305,997 shares of the company’s stock after purchasing an additional 1,605,657 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in WeRide were worth $18,656,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Carrhae Capital LLP bought a new stake in WeRide during the third quarter valued at $16,153,000. UBS Group AG increased its stake in WeRide by 89.2% in the 4th quarter. UBS Group AG now owns 2,768,106 shares of the company’s stock worth $24,027,000 after acquiring an additional 1,305,321 shares during the last quarter. FengHe Fund Management Pte. Ltd. increased its stake in WeRide by 198.5% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after acquiring an additional 2,776,381 shares during the last quarter. China UAE Investment Cooperation Fund L.P. purchased a new stake in shares of WeRide in the 4th quarter valued at about $67,443,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of WeRide in the 4th quarter valued at about $2,331,000.

WeRide Trading Up 3.1%

WRD opened at $5.74 on Tuesday. The stock has a 50-day moving average price of $6.62 and a 200-day moving average price of $7.42. WeRide Inc. has a 12-month low of $5.18 and a 12-month high of $12.55. The stock has a market capitalization of $1.79 billion, a P/E ratio of -7.65 and a beta of 1.92.

WeRide (NASDAQ:WRD) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($0.17) EPS for the quarter. The firm had revenue of $16.55 million for the quarter. WeRide had a negative net margin of 228.47% and a negative return on equity of 24.18%. On average, equities research analysts predict that WeRide Inc. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WRD shares. Wall Street Zen raised WeRide from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. The Goldman Sachs Group started coverage on shares of WeRide in a research note on Thursday, April 16th. They issued a “buy” rating on the stock. Zacks Research lowered shares of WeRide from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 21st. HSBC began coverage on shares of WeRide in a research note on Tuesday, March 31st. They issued a “buy” rating and a $11.40 price target for the company. Finally, BNP Paribas Exane started coverage on shares of WeRide in a report on Thursday, March 26th. They issued an “outperform” rating and a $11.00 price target on the stock. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, WeRide presently has an average rating of “Moderate Buy” and an average target price of $12.48.

WeRide Profile

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.