PDD Holdings Inc. (NASDAQ:PDD) Stock Position Cut by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. decreased its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,276,861 shares of the company's stock after selling 387,111 shares during the quarter. PDD comprises 20.8% of E Fund Management Co. Ltd.'s portfolio, making the stock its biggest holding. E Fund Management Co. Ltd. owned about 0.31% of PDD worth $414,813,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PDD by 1,374.3% in 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 worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. H&H International Investment LLC raised its holdings in shares of PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company's stock worth $526,784,000 after buying an additional 3,804,600 shares during the period. Baillie Gifford & Co. lifted its stake in shares of PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. FMR LLC boosted its holdings in PDD by 8.6% during 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 period. Finally, Capital Today Evergreen Fund L.P. boosted its holdings 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 valued at $241,853,000 after acquiring an additional 935,854 shares during the period. Institutional investors own 39.83% of the company's stock.

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PDD Stock Down 3.6 %

Shares of NASDAQ PDD traded down $4.29 during midday trading on Monday, reaching $115.63. 7,731,931 shares of the company's stock traded hands, compared to its average volume of 8,745,775. The company has a market cap of $159.09 billion, a price-to-earnings ratio of 11.29, a P/E/G ratio of 0.32 and a beta of 0.69. The stock's 50 day simple moving average is $110.66 and its 200-day simple moving average is $112.09. 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 one year low of $88.01 and a one year high of $164.69.

Analyst Ratings Changes

PDD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered PDD from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Jefferies Financial Group lowered their price objective on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research report on Thursday, November 21st. Finally, Benchmark reduced their target price on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $173.40.

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.