Fred Alger Management LLC Takes $3.50 Million Position in JD.com, Inc. (NASDAQ:JD)

Fred Alger Management LLC bought a new stake in shares of JD.com, Inc. (NASDAQ:JD - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 87,439 shares of the information services provider's stock, valued at approximately $3,498,000.

Several other hedge funds have also modified their holdings of JD. Huntington National Bank raised its position in JD.com by 32.1% during the third quarter. Huntington National Bank now owns 1,861 shares of the information services provider's stock valued at $74,000 after buying an additional 452 shares during the period. SRN Advisors LLC increased its position in JD.com by 1.6% in the 3rd quarter. SRN Advisors LLC now owns 32,200 shares of the information services provider's stock worth $1,288,000 after purchasing an additional 516 shares during the last quarter. Panagora Asset Management Inc. increased its position in JD.com by 2.8% in the 2nd quarter. Panagora Asset Management Inc. now owns 26,143 shares of the information services provider's stock worth $676,000 after purchasing an additional 719 shares during the last quarter. V Square Quantitative Management LLC increased its position in JD.com by 4.8% in the 2nd quarter. V Square Quantitative Management LLC now owns 17,303 shares of the information services provider's stock worth $447,000 after purchasing an additional 797 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of JD.com by 4.0% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 21,230 shares of the information services provider's stock worth $849,000 after acquiring an additional 820 shares in the last quarter. 15.98% of the stock is owned by hedge funds and other institutional investors.

JD.com Trading Up 0.5 %

JD traded up $0.19 on Friday, reaching $37.38. 6,108,812 shares of the company traded hands, compared to its average volume of 12,598,303. JD.com, Inc. has a one year low of $20.82 and a one year high of $47.82. The company has a market cap of $58.95 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 0.31 and a beta of 0.41. The firm has a fifty day simple moving average of $39.12 and a two-hundred day simple moving average of $31.76. The company has a quick ratio of 0.90, a current ratio of 1.17 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on JD.com from $40.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. StockNews.com raised JD.com from a "hold" rating to a "buy" rating in a report on Friday, November 22nd. Benchmark reissued a "buy" rating and issued a $47.00 target price on shares of JD.com in a research note on Friday, November 15th. Loop Capital raised JD.com from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $49.00 to $48.00 in a research note on Monday, October 21st. Finally, Barclays boosted their target price on JD.com from $40.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.36.

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.