Bank of Montreal Can Trims Position in PDD Holdings Inc. (NASDAQ:PDD)

Bank of Montreal Can cut its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,557 shares of the company's stock after selling 55,927 shares during the period. Bank of Montreal Can's holdings in PDD were worth $27,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cerity Partners LLC grew its stake in PDD by 5.0% in the 4th quarter. Cerity Partners LLC now owns 14,576 shares of the company's stock valued at $1,500,000 after purchasing an additional 694 shares during the period. FMR LLC grew its position in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the period. Polymer Capital Management HK LTD increased its holdings in PDD by 11.1% during the fourth quarter. Polymer Capital Management HK LTD now owns 141,155 shares of the company's stock worth $13,691,000 after buying an additional 14,100 shares during the last quarter. Himension Capital Singapore PTE. LTD. raised its position in PDD by 159.0% in the fourth quarter. Himension Capital Singapore PTE. LTD. now owns 108,850 shares of the company's stock worth $10,557,000 after acquiring an additional 66,819 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in PDD by 7.1% in the fourth quarter. Quadrant Capital Group LLC now owns 7,794 shares of the company's stock valued at $756,000 after acquiring an additional 518 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

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PDD Trading Up 4.7 %

PDD stock traded up $4.28 during trading on Monday, hitting $94.78. 20,220,743 shares of the company traded hands, compared to its average volume of 11,233,745. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50-day moving average of $116.61 and a 200-day moving average of $114.28. The firm has a market capitalization of $130.41 billion, a PE ratio of 9.26, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69.

Analysts Set New Price Targets

Several equities analysts recently commented on PDD shares. Nomura reiterated a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group cut their price target on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $169.91.

About PDD

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.