All Stars Investment Ltd Sells 65,600 Shares of PDD Holdings Inc. (NASDAQ:PDD)

All Stars Investment Ltd lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 61.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,500 shares of the company's stock after selling 65,600 shares during the quarter. PDD makes up 1.4% of All Stars Investment Ltd's holdings, making the stock its 3rd largest position. All Stars Investment Ltd's holdings in PDD were worth $3,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of PDD by 263.0% during the second quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company's stock worth $13,562,000 after purchasing an additional 73,908 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of PDD by 56.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company's stock worth $1,757,000 after purchasing an additional 4,750 shares during the last quarter. Beck Bode LLC purchased a new stake in shares of PDD in the second quarter valued at approximately $16,113,000. Intech Investment Management LLC increased its stake in shares of PDD by 9.9% in the 2nd quarter. Intech Investment Management LLC now owns 16,397 shares of the company's stock worth $2,180,000 after acquiring an additional 1,475 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in PDD by 1.7% in the second quarter. Pacer Advisors Inc. now owns 32,140 shares of the company's stock worth $4,273,000 after acquiring an additional 540 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the subject of several research analyst reports. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 22nd. Macquarie upgraded PDD from a "neutral" rating to an "outperform" rating and raised their target price for the company from $126.00 to $224.00 in a report on Monday, October 7th. Benchmark cut their price target on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock 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 note on Thursday, November 21st. Finally, JPMorgan Chase & Co. downgraded shares of PDD from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.40.

PDD Trading Down 1.0 %

Shares of NASDAQ PDD traded down $1.07 during midday trading on Wednesday, reaching $103.08. 6,061,572 shares of the stock were exchanged, compared to its average volume of 7,297,191. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a 50 day moving average price of $101.95 and a 200-day moving average price of $116.63. The company has a market capitalization of $141.82 billion, a P/E ratio of 10.07, a P/E/G ratio of 0.27 and a beta of 0.66. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

PDD 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.