Charles Schwab Investment Management Inc. Acquires 100,080 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Charles Schwab Investment Management Inc. increased its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 12.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,011 shares of the company's stock after buying an additional 100,080 shares during the period. Charles Schwab Investment Management Inc. owned 0.09% of Full Truck Alliance worth $8,217,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of YMM. First Beijing Investment Ltd bought a new position in shares of Full Truck Alliance during the third quarter valued at approximately $123,804,000. Polunin Capital Partners Ltd bought a new position in shares of Full Truck Alliance during the third quarter valued at approximately $29,632,000. Sylebra Capital LLC increased 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 valued at $64,416,000 after buying an additional 2,939,456 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Full Truck Alliance by 1,220.8% during the 2nd 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 buying an additional 1,834,900 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Full Truck Alliance during the 3rd quarter valued at approximately $10,814,000. 39.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

YMM has been the subject of several analyst reports. Barclays reduced their price target on Full Truck Alliance from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Friday, August 23rd. Citigroup raised their price objective on shares of Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. downgraded shares of Full Truck Alliance from an "overweight" rating to a "neutral" rating and raised their price target for the company from $12.00 to $13.00 in a research report on Wednesday.

Full Truck Alliance Price Performance

NYSE YMM traded down $0.42 during trading hours on Wednesday, hitting $11.50. The company's stock had a trading volume of 11,512,950 shares, compared to its average volume of 8,832,832. Full Truck Alliance Co. Ltd. has a 12 month low of $5.70 and a 12 month high of $12.47. The company's 50 day simple moving average is $9.40 and its two-hundred day simple moving average is $8.49. The company has a market cap of $12.12 billion, a P/E ratio of 28.38 and a beta of 0.28.

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.