PDD Holdings Inc. (NASDAQ:PDD) Stock Position Cut by Invesco Ltd.

Invesco Ltd. cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 21.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,664,660 shares of the company's stock after selling 1,007,076 shares during the period. Invesco Ltd. owned approximately 0.27% of PDD worth $355,435,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PDD. Baillie Gifford & Co. raised its holdings in shares of 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 purchasing an additional 1,942,891 shares during the period. Vanguard Group Inc. grew its stake in PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after buying an additional 268,662 shares during the period. FMR LLC increased its position in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. Norges Bank acquired a new stake in shares of PDD in the fourth quarter worth $812,246,000. Finally, Geode Capital Management LLC raised its stake in shares of PDD by 23.7% in the 4th quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company's stock valued at $559,482,000 after acquiring an additional 1,108,390 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on PDD shares. Citigroup reissued a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Benchmark reaffirmed a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Jefferies Financial Group reduced their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

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PDD Stock Performance

Shares of PDD stock traded up $5.17 on Monday, hitting $95.67. 15,227,214 shares of the stock traded hands, compared to its average volume of 11,216,258. The company has a market capitalization of $131.63 billion, a PE ratio of 9.34, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69. The company's fifty day moving average is $116.61 and its 200 day moving average is $114.28. 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 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.