PDD Holdings Inc. (NASDAQ:PDD) Holdings Reduced by Janus Henderson Group PLC

Janus Henderson Group PLC decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 64.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,554 shares of the company's stock after selling 182,887 shares during the quarter. Janus Henderson Group PLC's holdings in PDD were worth $13,423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. QRG Capital Management Inc. increased its holdings in shares of PDD by 4.4% in the 2nd quarter. QRG Capital Management Inc. now owns 15,387 shares of the company's stock valued at $2,046,000 after purchasing an additional 652 shares in the last quarter. M&G Plc increased its holdings in shares of PDD by 7.3% in the 2nd quarter. M&G Plc now owns 216,600 shares of the company's stock valued at $28,808,000 after purchasing an additional 14,708 shares in the last quarter. Bank Pictet & Cie Asia Ltd. purchased a new position in shares of PDD in the 2nd quarter valued at about $86,550,000. Diversified Trust Co increased its holdings in shares of PDD by 68.0% in the 2nd quarter. Diversified Trust Co now owns 14,919 shares of the company's stock valued at $1,983,000 after purchasing an additional 6,037 shares in the last quarter. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of PDD in the 2nd quarter valued at about $308,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PDD. Barclays lowered their price objective on shares of PDD from $224.00 to $158.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 27th. Jefferies Financial Group lowered their price objective on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and lowered their price objective for the company 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 report on Friday, November 22nd. Finally, Sanford C. Bernstein cut their price objective on shares of PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.40.

PDD Stock Up 10.5 %

Shares of PDD stock traded up $10.44 during trading on Monday, reaching $110.33. The company had a trading volume of 24,999,225 shares, compared to its average volume of 10,726,749. The company has a market cap of $151.80 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The firm's fifty day moving average is $120.76 and its 200-day moving average is $126.29. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

About PDD

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.