680,000 Shares in WeRide Inc. $WRD Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co bought a new position in shares of WeRide Inc. (NASDAQ:WRD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 680,000 shares of the company’s stock, valued at approximately $6,732,000. Varma Mutual Pension Insurance Co owned approximately 0.23% of WeRide as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in WRD. Robert Bosch GmbH purchased a new position in WeRide during the 2nd quarter valued at about $32,424,000. MY.Alpha Management HK Advisors Ltd purchased a new position in shares of WeRide during the 2nd quarter worth approximately $6,374,000. Bank of America Corp DE acquired a new position in shares of WeRide during the 2nd quarter worth approximately $4,687,000. Brighton Jones LLC acquired a new position in shares of WeRide during the 3rd quarter worth approximately $4,404,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in WeRide in the 3rd quarter valued at approximately $4,108,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WRD shares. CLSA assumed coverage on WeRide in a research report on Monday, January 5th. They set an “outperform” rating and a $13.00 price target for the company. Citigroup reiterated a “buy” rating on shares of WeRide in a research report on Monday, January 19th. Macquarie Capit upgraded shares of WeRide to a “strong-buy” rating in a report on Tuesday. Bank of America assumed coverage on shares of WeRide in a research report on Monday, December 1st. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of WeRide in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.13.

WeRide Price Performance

WRD opened at $7.57 on Friday. WeRide Inc. has a 12 month low of $6.03 and a 12 month high of $44.00. The business has a 50-day moving average of $8.65 and a two-hundred day moving average of $9.26. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -9.01 and a beta of 4.32.

WeRide Profile

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.