State Street Corp Raises Stake in Full Truck Alliance Co. Ltd. (NYSE:YMM)

State Street Corp raised its position in Full Truck Alliance Co. Ltd. (NYSE:YMM - Free Report) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,609,508 shares of the company's stock after buying an additional 155,834 shares during the quarter. State Street Corp owned approximately 0.25% of Full Truck Alliance worth $23,512,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Alkeon Capital Management LLC raised its position in Full Truck Alliance by 3.9% in the 3rd quarter. Alkeon Capital Management LLC now owns 24,276,570 shares of the company's stock valued at $218,732,000 after purchasing an additional 921,820 shares during the last quarter. First Beijing Investment Ltd acquired a new position in Full Truck Alliance in the third quarter valued at $123,804,000. Bamco Inc. NY raised its holdings in shares of Full Truck Alliance by 1.2% in the third quarter. Bamco Inc. NY now owns 10,405,899 shares of the company's stock valued at $93,757,000 after buying an additional 125,853 shares during the last quarter. Sylebra Capital LLC boosted its stake in shares of Full Truck Alliance by 57.9% during the second 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 during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Full Truck Alliance by 10.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,701,028 shares of the company's stock worth $33,346,000 after buying an additional 353,891 shares during the last quarter. 39.02% of the stock is owned by institutional investors and hedge funds.

Full Truck Alliance Stock Performance

NYSE:YMM traded down $0.13 during mid-day trading on Monday, reaching $11.19. The stock had a trading volume of 5,729,820 shares, compared to its average volume of 8,868,464. Full Truck Alliance Co. Ltd. has a twelve month low of $5.70 and a twelve month high of $12.47. The business has a 50 day simple moving average of $9.64 and a 200 day simple moving average of $8.61. The firm has a market capitalization of $11.79 billion, a price-to-earnings ratio of 26.64 and a beta of 0.28.

Wall Street Analyst Weigh In

Several research firms have commented on YMM. Citigroup upped their price objective on Full Truck Alliance from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. cut Full Truck Alliance from an "overweight" rating to a "neutral" rating and upped their price target for the stock from $12.00 to $13.00 in a research note on Wednesday, December 11th.

Full Truck Alliance 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.