Did Analysts Get One Of These Upgrades Wrong?

JD.Com Inc(ADR) (NASDAQ:JD)

• Investors with Long Positions (as of June 30): 75
• Aggregate Value of Investors’ Holdings (as of June 30): $11.81 Billion
• Percentage of Shares Owned by Investors: 25.30%

Lastly is JD.Com Inc(ADR) (NASDAQ:JD). The Chinese e-commerce direct sales platform was upgraded to ‘Buy’ from ‘Hold’ at Deutsche Bank, with a $32 price target. That price target would’ve seemed pedestrian in the middle of June when shares were nearly $38, but they have since crumbled to under $26. JD.com recently announced a share buyback program totaling $1 billion, and has made its first strides into a foreign market, Russia, where it aims to be a market leader within five years.

Hedge funds in our database were extremely bullish on JD.com, which was particularly coveted by ‘Tiger Cubs’. Chase Coleman and Stephen Mandel each owned very large positions in the stock, of 70.18 million shares and 41.89 million shares respectively, with the stock ranking as the top long pick of each fund manager. It was also a favorite stock pick of the billionaires in our database, with 14 of them owning it as of June 30.

Disclosure: None