PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,246,898 shares of the company's stock after selling 4,962 shares during the quarter. Bridgewater Associates LP owned about 0.09% of PDD worth $120,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of PDD during the 4th quarter valued at approximately $812,246,000. Sanders Capital LLC bought a new position in PDD during the fourth quarter valued at $499,972,000. FMR LLC raised its stake in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the period. FIL Ltd lifted its holdings in shares of PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after acquiring an additional 3,350,627 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Nomura reaffirmed a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group dropped their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Stock Up 1.5 %

Shares of NASDAQ:PDD traded up $1.34 during trading on Friday, reaching $93.69. The stock had a trading volume of 10,674,242 shares, compared to its average volume of 11,295,157. The firm's 50-day simple moving average is $115.04 and its 200 day simple moving average is $113.42. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The company has a market capitalization of $128.91 billion, a P/E ratio of 9.15, a PEG ratio of 0.32 and a beta of 0.73.

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.