Oaktree Capital Management LP Sells 5,500 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Oaktree Capital Management LP cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 277,767 shares of the company's stock after selling 5,500 shares during the period. Oaktree Capital Management LP's holdings in PDD were worth $26,941,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its position 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 purchasing an additional 1,942,891 shares in the last quarter. Vanguard Group Inc. increased its stake in PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock valued at $2,779,986,000 after buying an additional 268,662 shares during the last quarter. Norges Bank bought a new stake in PDD during the 4th quarter worth about $812,246,000. Appaloosa LP boosted its stake in shares of PDD by 1.0% during the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company's stock worth $519,491,000 after buying an additional 55,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock valued at $627,104,000 after acquiring an additional 513,248 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Stock Performance

Shares of PDD stock traded up $3.84 on Tuesday, hitting $122.19. The stock had a trading volume of 7,064,924 shares, compared to its average volume of 10,659,710. The stock has a market cap of $168.12 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The business's 50 day moving average is $118.41 and its two-hundred day moving average is $114.61.

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Analysts Set New Price Targets

Several research analysts recently commented on the company. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Nomura reissued 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. Citigroup restated a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group decreased their price objective 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. Finally, Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus 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.