Pinpoint Asset Management Ltd Invests $13.33 Million in JD.com, Inc. (NASDAQ:JD)

Pinpoint Asset Management Ltd acquired a new stake in shares of JD.com, Inc. (NASDAQ:JD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 333,312 shares of the information services provider’s stock, valued at approximately $13,332,000. JD.com makes up about 2.9% of Pinpoint Asset Management Ltd’s holdings, making the stock its 9th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atlas Capital Advisors LLC purchased a new stake in shares of JD.com in the 2nd quarter valued at $28,000. Huntington National Bank lifted its stake in JD.com by 32.1% in the third quarter. Huntington National Bank now owns 1,861 shares of the information services provider’s stock worth $74,000 after purchasing an additional 452 shares during the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in JD.com during the third quarter valued at about $103,000. Allspring Global Investments Holdings LLC grew its stake in shares of JD.com by 58.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,990 shares of the information services provider’s stock valued at $120,000 after buying an additional 1,102 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of JD.com by 295.7% in the third quarter. Blue Trust Inc. now owns 3,158 shares of the information services provider’s stock worth $126,000 after buying an additional 2,360 shares during the period. Hedge funds and other institutional investors own 15.98% of the company’s stock.

JD.com Trading Down 1.0 %

NASDAQ JD opened at $37.10 on Wednesday. The firm has a market capitalization of $58.51 billion, a PE ratio of 11.74, a P/E/G ratio of 0.31 and a beta of 0.38. The stock’s 50 day moving average is $39.34 and its 200 day moving average is $31.80. JD.com, Inc. has a twelve month low of $20.82 and a twelve month high of $47.82. 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 Analysts Forecast Growth

JD has been the topic of several recent research reports. Citigroup reduced their price target on JD.com from $52.00 to $51.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Benchmark reaffirmed 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 shares of JD.com from a “hold” rating to a “buy” rating and dropped their price target for the company from $49.00 to $48.00 in a research report on Monday, October 21st. Sanford C. Bernstein decreased their price objective on shares of JD.com from $35.00 to $32.00 and set a “market perform” rating on the stock in a research report on Friday, August 16th. Finally, Susquehanna reiterated a “neutral” rating and set a $28.00 target price on shares of JD.com in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.36.

JD.com Company Profile

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.