Keystone Investors PTE Ltd. Sells 1,233,340 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Keystone Investors PTE Ltd. decreased its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 97.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,805 shares of the company's stock after selling 1,233,340 shares during the quarter. Keystone Investors PTE Ltd.'s holdings in PDD were worth $3,667,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PDD by 1,374.3% during 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 buying an additional 12,253,589 shares during the period. H&H International Investment LLC lifted its stake in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock worth $526,784,000 after acquiring an additional 3,804,600 shares during the last quarter. Baillie Gifford & Co. grew its position in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. FMR LLC boosted its stake in shares of PDD by 8.6% during 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 period. Finally, Capital Today Evergreen Fund L.P. grew its holdings in shares of PDD by 60.1% in the fourth quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company's stock worth $241,853,000 after purchasing an additional 935,854 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. Citigroup restated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. Nomura reiterated a "neutral" rating and set a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their price target on shares of 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 target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, March 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Trading Down 3.1 %

PDD stock traded down $3.91 on Friday, hitting $120.45. 6,950,853 shares of the company were exchanged, compared to its average volume of 10,689,709. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. 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. The business's fifty day moving average is $118.16 and its two-hundred day moving average is $114.33. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69.

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.