Carrhae Capital LLP Sells 387,740 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Carrhae Capital LLP lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 86.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,220 shares of the company's stock after selling 387,740 shares during the quarter. PDD comprises about 0.5% of Carrhae Capital LLP's investment portfolio, making the stock its 21st largest position. Carrhae Capital LLP's holdings in PDD were worth $5,841,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after purchasing an additional 132 shares during the last quarter. New York Life Investment Management LLC boosted its position in shares of PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after purchasing an additional 139 shares during the last quarter. Cibc World Markets Corp grew its position in shares of PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after buying an additional 164 shares during the period. Finally, Avior Wealth Management LLC increased its stake in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock valued at $68,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently issued reports on PDD shares. Benchmark reissued a "buy" rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura reaffirmed a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. upped their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Citigroup reiterated a "neutral" rating on shares of PDD in a 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PDD currently has a consensus rating of "Moderate Buy" and an average price target of $169.91.

PDD Stock Performance

NASDAQ:PDD traded down $3.91 during mid-day trading on Friday, hitting $120.45. 6,950,853 shares of the stock were exchanged, compared to its average volume of 10,689,709. 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 firm's 50-day simple moving average is $118.16 and its 200 day simple moving average is $114.33. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market capitalization of $165.72 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.