Jump Financial LLC Cuts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Jump Financial LLC decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,375 shares of the company's stock after selling 3,873 shares during the period. Jump Financial LLC's holdings in PDD were worth $521,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in PDD during the 4th quarter valued at about $812,246,000. Sanders Capital LLC purchased a new stake in PDD in the fourth quarter worth $499,972,000. FMR LLC boosted its stake in shares of PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. FIL Ltd grew its holdings in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in PDD by 5.4% in the 4th 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. Institutional investors own 39.83% of the company's stock.

PDD Stock Performance

Shares of PDD traded up $0.74 during mid-day trading on Friday, reaching $104.01. The company had a trading volume of 5,059,614 shares, compared to its average volume of 11,285,109. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $143.10 billion, a P/E ratio of 10.16, a PEG ratio of 0.32 and a beta of 0.73. The stock has a 50 day moving average of $112.23 and a two-hundred day moving average of $111.08. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research 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. Benchmark reissued a "buy" rating and set a $160.00 price objective on shares of PDD in a report on Friday, March 21st. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Finally, Nomura restated a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, PDD has an average rating of "Moderate Buy" and an average 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.