Rings Capital Management LLC Invests $7.20 Million in JD.com, Inc. (NASDAQ:JD)

Rings Capital Management LLC bought a new stake in shares of JD.com, Inc. (NASDAQ:JD) during the third quarter, Holdings Channel.com reports. The fund bought 180,000 shares of the information services provider’s stock, valued at approximately $7,200,000. JD.com comprises 3.8% of Rings Capital Management LLC’s holdings, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. FMR LLC raised its position in JD.com by 41.0% during the third quarter. FMR LLC now owns 15,276,992 shares of the information services provider’s stock worth $611,080,000 after acquiring an additional 4,445,277 shares during the period. Federated Hermes Inc. raised 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 worth $110,601,000 after purchasing an additional 603,211 shares during the last quarter. Fisher Asset Management LLC lifted its stake in JD.com by 9.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,072,599 shares of the information services provider’s stock valued at $162,904,000 after buying an additional 336,740 shares in the last quarter. Polunin Capital Partners Ltd boosted its holdings in JD.com by 27.8% in the 3rd quarter. Polunin Capital Partners Ltd now owns 2,058,917 shares of the information services provider’s stock worth $82,291,000 after buying an additional 447,264 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of JD.com by 177.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,873,282 shares of the information services provider’s stock valued at $74,931,000 after acquiring an additional 1,198,753 shares during the last quarter. Hedge funds and other institutional investors own 15.98% of the company’s stock.

JD.com Stock Performance

NASDAQ JD opened at $37.19 on Thursday. The stock has a fifty day simple moving average of $38.77 and a 200-day simple moving average of $31.73. The company has a current ratio of 1.17, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market cap of $58.65 billion, a PE ratio of 11.77, a P/E/G ratio of 0.28 and a beta of 0.41. JD.com, Inc. has a twelve month low of $20.82 and a twelve month high of $47.82.

Analyst Upgrades and Downgrades

JD has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $47.00 price target 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 objective for the company from $49.00 to $48.00 in a research note on Monday, October 21st. Susquehanna reissued a “neutral” rating and issued a $28.00 target price on shares of JD.com in a research note on Monday, August 19th. StockNews.com upgraded JD.com from a “hold” rating to a “buy” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on JD.com from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, JD.com currently has a consensus rating of “Moderate Buy” and an average target price of $40.36.

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.