PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 20.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 469,091 shares of the company's stock after selling 123,257 shares during the quarter. Franklin Resources Inc.'s holdings in PDD were worth $45,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the 4th quarter valued at $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC increased its position in shares of PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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PDD Stock Down 4.3 %

PDD traded down $4.05 on Thursday, reaching $90.10. The company's stock had a trading volume of 6,811,026 shares, compared to its average volume of 11,038,553. The company has a market capitalization of $123.96 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50 day moving average of $117.42 and a two-hundred day moving average of $114.72.

Analysts Set New Price Targets

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

PDD Company 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.