Blue Trust Inc. lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 47.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,432 shares of the company's stock after selling 2,153 shares during the period. Blue Trust Inc.'s holdings in PDD were worth $236,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Baillie Gifford & Co. increased its position in PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock worth $4,868,859,000 after buying an additional 988,042 shares during the last quarter. FMR LLC grew its position in shares of PDD by 8.6% in the third quarter. FMR LLC now owns 20,930,161 shares of the company's stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Geode Capital Management LLC grew its position in PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock worth $627,104,000 after buying an additional 513,248 shares in the last quarter. Finally, H&H International Investment LLC grew its position in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock worth $526,784,000 after buying an additional 3,804,600 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have commented on PDD. Jefferies Financial Group cut their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Benchmark dropped their price objective 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. Dbs Bank lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and an average price target of $173.40.
View Our Latest Stock Analysis on PDD
PDD Stock Performance
NASDAQ:PDD traded up $6.25 during mid-day trading on Friday, hitting $130.66. The stock had a trading volume of 12,658,582 shares, compared to its average volume of 8,576,005. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a market cap of $179.77 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.32 and a beta of 0.67. The company's 50 day simple moving average is $106.54 and its 200 day simple moving average is $114.17. 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 Company Profile
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Free Report)
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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