IDG China Venture Capital Fund IV Associates L.P. Has $282.28 Million Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

IDG China Venture Capital Fund IV Associates L.P. decreased its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,910,430 shares of the company's stock after selling 177,300 shares during the period. PDD makes up approximately 65.5% of IDG China Venture Capital Fund IV Associates L.P.'s holdings, making the stock its largest holding. IDG China Venture Capital Fund IV Associates L.P. owned approximately 0.21% of PDD worth $282,283,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company's stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. H&H International Investment LLC grew its stake in shares of 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 valued at $526,784,000 after buying an additional 3,804,600 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after buying an additional 1,942,891 shares during the period. FMR LLC lifted its stake in shares of PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company's stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. Finally, Capital Today Evergreen Fund L.P. grew its position in PDD by 60.1% during the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company's stock worth $241,853,000 after acquiring an additional 935,854 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. Benchmark dropped their price target 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. JPMorgan Chase & Co. lowered shares of PDD from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and an average price target of $173.40.

PDD Stock Down 0.3 %

Shares of PDD stock traded down $0.39 during midday trading on Thursday, reaching $119.82. 7,124,268 shares of the stock were exchanged, compared to its average volume of 8,838,844. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The firm has a market cap of $164.86 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company's 50 day moving average is $109.79 and its two-hundred day moving average is $112.72. 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 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.