Krane Funds Advisors LLC Sells 27,215,222 Shares of Full Truck Alliance Co. Ltd. (NYSE:YMM)

Krane Funds Advisors LLC lowered its stake in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 99.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,756 shares of the company's stock after selling 27,215,222 shares during the quarter. Full Truck Alliance makes up 1.8% of Krane Funds Advisors LLC's investment portfolio, making the stock its 12th largest holding. Krane Funds Advisors LLC's holdings in Full Truck Alliance were worth $2,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of YMM. Vanguard Group Inc. boosted its position in shares of Full Truck Alliance by 0.7% in the first quarter. Vanguard Group Inc. now owns 25,698,222 shares of the company's stock worth $186,826,000 after buying an additional 170,657 shares during the period. Mubadala Investment Co PJSC boosted its position in Full Truck Alliance by 45.7% during the 1st quarter. Mubadala Investment Co PJSC now owns 16,776,591 shares of the company's stock worth $121,966,000 after acquiring an additional 5,263,157 shares during the period. Janus Henderson Group PLC boosted its position in Full Truck Alliance by 2.8% during the 1st quarter. Janus Henderson Group PLC now owns 11,807,182 shares of the company's stock worth $85,822,000 after acquiring an additional 317,980 shares during the period. Bamco Inc. NY grew its stake in Full Truck Alliance by 2.3% during the 1st quarter. Bamco Inc. NY now owns 10,819,188 shares of the company's stock valued at $78,655,000 after acquiring an additional 238,622 shares in the last quarter. Finally, Sylebra Capital LLC increased its holdings in shares of Full Truck Alliance by 57.9% in the 2nd quarter. Sylebra Capital LLC now owns 8,011,918 shares of the company's stock valued at $64,416,000 after purchasing an additional 2,939,456 shares during the period. Institutional investors and hedge funds own 39.02% of the company's stock.

Wall Street Analyst Weigh In

Separately, Barclays lowered their price objective on shares of Full Truck Alliance from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Friday, August 23rd.

Full Truck Alliance Price Performance

YMM traded up $0.20 during trading on Friday, reaching $8.88. 9,270,248 shares of the stock traded hands, compared to its average volume of 8,736,212. The stock's 50-day simple moving average is $8.06 and its two-hundred day simple moving average is $8.22. Full Truck Alliance Co. Ltd. has a fifty-two week low of $5.70 and a fifty-two week high of $10.29. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 27.75 and a beta of 0.23.

Full Truck Alliance (NYSE:YMM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 21st. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. Full Truck Alliance had a return on equity of 7.88% and a net margin of 26.80%. The business had revenue of $380.38 million during the quarter, compared to analyst estimates of $369.24 million. Research analysts anticipate that Full Truck Alliance Co. Ltd. will post 0.41 earnings per share for the current fiscal year.

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.