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

Alkeon Capital Management LLC grew its holdings in shares of Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,276,570 shares of the company's stock after purchasing an additional 921,820 shares during the period. Alkeon Capital Management LLC owned approximately 2.30% of Full Truck Alliance worth $218,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in YMM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Full Truck Alliance during the third quarter worth approximately $4,218,000. Quantbot Technologies LP lifted its position in shares of Full Truck Alliance by 4,028.6% during the 3rd quarter. Quantbot Technologies LP now owns 121,258 shares of the company's stock valued at $1,093,000 after acquiring an additional 118,321 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Full Truck Alliance by 1.0% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 545,517 shares of the company's stock worth $4,910,000 after acquiring an additional 5,660 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Full Truck Alliance by 6.0% in the 3rd quarter. Citigroup Inc. now owns 483,469 shares of the company's stock worth $4,356,000 after acquiring an additional 27,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Full Truck Alliance by 12.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 912,011 shares of the company's stock worth $8,217,000 after purchasing an additional 100,080 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on YMM shares. Citigroup increased their price target on Full Truck Alliance from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Barclays reduced 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 report on Friday, August 23rd. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Full Truck Alliance currently has an average rating of "Buy" and an average target price of $10.00.

Full Truck Alliance Trading Up 0.3 %

NYSE:YMM traded up $0.02 on Friday, hitting $10.00. 5,964,200 shares of the company's stock traded hands, compared to its average volume of 8,633,844. The company has a market cap of $10.53 billion, a PE ratio of 23.80 and a beta of 0.23. Full Truck Alliance Co. Ltd. has a 1 year low of $5.70 and a 1 year high of $10.29. The firm has a 50-day moving average price of $9.05 and a 200-day moving average price of $8.40.

About Full Truck Alliance

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.