Summit Global Investments Cuts Stake in JD.com, Inc. (NASDAQ:JD)

Summit Global Investments reduced its position in JD.com, Inc. (NASDAQ:JD) by 22.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 46,517 shares of the information services provider’s stock after selling 13,264 shares during the period. Summit Global Investments’ holdings in JD.com were worth $1,861,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of JD. Atlas Capital Advisors LLC purchased a new stake in shares of JD.com during the second quarter valued at $28,000. Allspring Global Investments Holdings LLC grew its holdings in shares of JD.com by 812.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,888 shares of the information services provider’s stock valued at $52,000 after buying an additional 1,681 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of JD.com during the first quarter valued at $126,000. Blue Trust Inc. grew its holdings in shares of JD.com by 295.7% during the third quarter. Blue Trust Inc. now owns 3,158 shares of the information services provider’s stock valued at $126,000 after buying an additional 2,360 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of JD.com during the second quarter valued at $172,000. 15.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JD has been the topic of several recent research reports. StockNews.com raised shares of JD.com from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Susquehanna reaffirmed a “neutral” rating and issued a $28.00 price target on shares of JD.com in a report on Monday, August 19th. Sanford C. Bernstein lowered their price target on shares of JD.com from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Benchmark reaffirmed a “buy” rating and issued a $47.00 price target on shares of JD.com in a report on Tuesday, October 15th. Finally, Barclays upped their price target on shares of JD.com from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.71.

JD.com Trading Down 7.0 %

JD stock opened at $38.35 on Friday. The firm has a market cap of $60.48 billion, a P/E ratio of 13.95, a PEG ratio of 0.43 and a beta of 0.41. JD.com, Inc. has a 52-week low of $20.82 and a 52-week high of $47.82. The company’s 50-day simple moving average is $36.42 and its 200-day simple moving average is $31.28. The company has a quick ratio of 0.90, a current ratio of 1.15 and a debt-to-equity ratio of 0.20.

JD.com (NASDAQ:JD) last issued its quarterly earnings results on Thursday, August 15th. The information services provider reported $9.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $8.57. The firm had revenue of $291.40 billion for the quarter, compared to analyst estimates of $291.01 billion. JD.com had a net margin of 2.80% and a return on equity of 13.51%. JD.com’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. As a group, equities analysts forecast that JD.com, Inc. will post 3.74 EPS for the current fiscal year.

JD.com 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.