PDD Holdings Inc. (NASDAQ:PDD) Stake Lowered by Korea Investment CORP

Korea Investment CORP reduced its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,787 shares of the company's stock after selling 10,700 shares during the period. Korea Investment CORP's holdings in PDD were worth $51,481,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp increased its holdings in 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 in the last quarter. Farther Finance Advisors LLC boosted its position in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the period. New York Life Investment Management LLC grew its stake in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after buying an additional 139 shares in the last quarter. Cibc World Markets Corp raised its holdings 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 valued at $1,435,000 after buying an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

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PDD Stock Performance

PDD traded down $1.64 during trading hours on Monday, hitting $118.81. 4,065,929 shares of the stock were exchanged, compared to its average volume of 10,663,595. The stock has a market cap of $163.47 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock has a 50-day simple moving average of $118.16 and a 200-day simple moving average of $114.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PDD. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a "buy" rating and set 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. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $169.91.

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.