Alkeon Capital Management LLC Acquires 921,820 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Alkeon Capital Management LLC lifted its holdings in Full Truck Alliance Co. Ltd. (NYSE:YMM) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,276,570 shares of the company’s stock after purchasing an additional 921,820 shares during the quarter. Alkeon Capital Management LLC owned 2.30% of Full Truck Alliance worth $218,732,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Sylebra Capital LLC lifted its position in Full Truck Alliance by 57.9% during the 2nd quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company’s stock worth $64,416,000 after buying an additional 2,939,456 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Full Truck Alliance in the second quarter valued at about $1,092,000. Acadian Asset Management LLC bought a new stake in Full Truck Alliance during the second quarter worth about $6,988,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Full Truck Alliance by 1,220.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,985,200 shares of the company’s stock valued at $15,961,000 after purchasing an additional 1,834,900 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Full Truck Alliance during the 3rd quarter worth approximately $10,814,000. Institutional investors own 39.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on YMM shares. Citigroup increased their price objective on Full Truck Alliance from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Barclays cut their price target on shares of Full Truck Alliance from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $10.00.

Full Truck Alliance Trading Up 0.2 %

YMM opened at $9.97 on Friday. The stock’s fifty day simple moving average is $9.01 and its 200 day simple moving average is $8.39. Full Truck Alliance Co. Ltd. has a 1-year low of $5.70 and a 1-year high of $10.29. The stock has a market cap of $10.51 billion, a PE ratio of 23.74 and a beta of 0.23.

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.