Sterling Investment Management LLC Acquires 23,857 Shares of JD.com, Inc. (NASDAQ:JD)

Sterling Investment Management LLC boosted its holdings in JD.com, Inc. (NASDAQ:JD) by 67.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,360 shares of the information services provider’s stock after buying an additional 23,857 shares during the quarter. JD.com accounts for approximately 1.8% of Sterling Investment Management LLC’s holdings, making the stock its 21st biggest position. Sterling Investment Management LLC’s holdings in JD.com were worth $2,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of JD. Discerene Group LP grew its stake in shares of JD.com by 66.0% during the 1st quarter. Discerene Group LP now owns 5,554,851 shares of the information services provider’s stock valued at $152,147,000 after purchasing an additional 2,207,619 shares during the period. Lazard Asset Management LLC grew its position in JD.com by 30.7% during the first quarter. Lazard Asset Management LLC now owns 5,821,934 shares of the information services provider’s stock valued at $159,461,000 after buying an additional 1,368,356 shares during the period. M&G Plc bought a new position in JD.com in the first quarter worth approximately $22,920,000. Varma Mutual Pension Insurance Co boosted its stake in shares of JD.com by 285.0% during the 2nd quarter. Varma Mutual Pension Insurance Co now owns 946,300 shares of the information services provider’s stock worth $24,452,000 after acquiring an additional 700,500 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in shares of JD.com by 16.4% during the 2nd quarter. Federated Hermes Inc. now owns 4,280,215 shares of the information services provider’s stock valued at $110,601,000 after acquiring an additional 603,211 shares during the period. Institutional investors own 15.98% of the company’s stock.

JD.com Stock Up 2.9 %

JD opened at $39.98 on Monday. The company has a market capitalization of $63.05 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 0.65 and a beta of 0.42. The firm has a 50-day simple moving average of $32.48 and a two-hundred day simple moving average of $29.86. 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, Inc. has a 52 week low of $20.82 and a 52 week high of $47.82.

JD.com (NASDAQ:JD) last released its quarterly earnings results on Thursday, August 15th. The information services provider reported $9.36 earnings per share for the quarter, beating the consensus estimate of $0.79 by $8.57. The business had revenue of $291.40 billion during the quarter, compared to analysts’ expectations of $291.01 billion. JD.com had a return on equity of 13.51% and a net margin of 2.80%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. Analysts forecast that JD.com, Inc. will post 3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their target price on JD.com from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $47.00 price objective on shares of JD.com in a research note on Tuesday, October 15th. Susquehanna restated a “neutral” rating and set a $28.00 target price on shares of JD.com in a research note on Monday, August 19th. Loop Capital upgraded shares of JD.com from a “hold” rating to a “buy” rating and dropped their price target for the stock from $49.00 to $48.00 in a research report on Monday. Finally, StockNews.com downgraded shares of JD.com from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, JD.com currently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.