Platinum Investment Management Ltd. boosted its stake in shares of JD.com, Inc. (NASDAQ:JD) by 43.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,867,812 shares of the information services provider’s stock after purchasing an additional 568,990 shares during the quarter. JD.com makes up 1.8% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 19th biggest holding. Platinum Investment Management Ltd. owned approximately 0.13% of JD.com worth $71,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of JD. FIL Ltd increased its holdings in shares of JD.com by 36.1% in the 2nd quarter. FIL Ltd now owns 9,860,118 shares of the information services provider’s stock valued at $386,713,000 after acquiring an additional 2,616,886 shares during the last quarter. GQG Partners LLC purchased a new position in shares of JD.com in the 2nd quarter valued at about $85,822,000. BARING ASSET MANAGEMENT Ltd purchased a new position in shares of JD.com in the 2nd quarter valued at about $61,748,000. Ariose Capital Management Ltd purchased a new position in shares of JD.com in the 2nd quarter valued at about $47,005,000. Finally, Rovida Advisors Inc. purchased a new position in shares of JD.com in the 3rd quarter valued at about $43,403,000. Institutional investors own 44.99% of the company’s stock.
A number of research firms have recently commented on JD. BidaskClub downgraded JD.com from a “hold” rating to a “sell” rating in a report on Saturday. J P Morgan Chase & Co decreased their target price on JD.com from $52.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, November 15th. Nomura upped their target price on JD.com from $49.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Wells Fargo & Company upped their target price on JD.com from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Tuesday, November 14th. Finally, Morgan Stanley cut JD.com from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $50.00 to $52.00 in a research report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. JD.com presently has a consensus rating of “Buy” and a consensus price target of $45.50.
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JD.com, Inc is an online direct sales company. The Company engages in the sale of electronics and home appliance products and general merchandise products (including audio, video products and books) sourced from manufacturers, distributors and publishers in China on the Internet through its Website, www.jd.com.
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