ANTIPODES PARTNERS Ltd Sells 332,121 Shares of PDD Holdings Inc. (NASDAQ:PDD)

ANTIPODES PARTNERS Ltd lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 71.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 135,379 shares of the company's stock after selling 332,121 shares during the period. ANTIPODES PARTNERS Ltd's holdings in PDD were worth $13,131,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PDD. Gordian Capital Singapore Pte Ltd lifted its position in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock worth $942,000 after purchasing an additional 6,460 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock worth $5,155,000 after purchasing an additional 14,905 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in shares of PDD in the 3rd quarter worth about $74,221,000. Headwater Capital Co Ltd purchased a new stake in shares of PDD in the 4th quarter worth about $9,699,000. Finally, Baillie Gifford & Co. lifted its position in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

PDD has been the subject of a number of recent research reports. Dbs Bank cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Benchmark lowered their price target on shares of PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, PDD has an average rating of "Moderate Buy" and an average target price of $173.40.

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NASDAQ:PDD opened at $117.86 on Thursday. The firm has a market cap of $162.16 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a 50-day simple moving average of $111.92 and a two-hundred day simple moving average of $111.76.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.

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