King Wealth Management Group Invests $528,000 in JD.com, Inc. (NASDAQ:JD)

King Wealth Management Group purchased a new position in shares of JD.com, Inc. (NASDAQ:JD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 13,203 shares of the information services provider’s stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in 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 worth $52,000 after acquiring an additional 1,681 shares during the period. QRG Capital Management Inc. lifted its stake in shares of JD.com by 60.4% in the first quarter. QRG Capital Management Inc. now owns 27,135 shares of the information services provider’s stock valued at $743,000 after purchasing an additional 10,221 shares during the period. Avantax Advisory Services Inc. grew its position in JD.com by 23.4% during the first quarter. Avantax Advisory Services Inc. now owns 18,053 shares of the information services provider’s stock worth $494,000 after buying an additional 3,422 shares during the period. M&G Plc purchased a new position in JD.com in the first quarter valued at about $22,920,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of JD.com by 103.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 62,002 shares of the information services provider’s stock valued at $1,698,000 after acquiring an additional 31,563 shares during the period. 15.98% of the stock is currently owned by hedge funds and other institutional investors.

JD.com Stock Down 6.6 %

Shares of NASDAQ:JD opened at $33.35 on Friday. The firm has a market cap of $52.60 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.40 and a beta of 0.41. The company has a fifty day simple moving average of $37.03 and a 200 day simple moving average of $31.47. The company has a current ratio of 1.15, a quick ratio of 0.90 and a debt-to-equity ratio of 0.20. JD.com, Inc. has a 12-month low of $20.82 and a 12-month high of $47.82.

JD.com (NASDAQ:JD) last released its earnings results on Thursday, August 15th. The information services provider reported $9.36 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $8.57. JD.com had a return on equity of 13.51% and a net margin of 2.80%. The company had revenue of $291.40 billion for the quarter, compared to the consensus estimate of $291.01 billion. During the same quarter last year, the business posted $0.68 EPS. JD.com’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts anticipate that JD.com, Inc. will post 3.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JD shares. Benchmark restated a “buy” rating and set a $47.00 target price on shares of JD.com in a report on Tuesday, October 15th. Susquehanna restated a “neutral” rating and set a $28.00 price objective on shares of JD.com in a research report on Monday, August 19th. Sanford C. Bernstein lowered their target price on JD.com from $35.00 to $32.00 and set a “market perform” rating on the stock in a report on Friday, August 16th. Barclays boosted their price target on JD.com from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Loop Capital upgraded JD.com from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $49.00 to $48.00 in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.71.

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.