PDD Holdings Inc. (NASDAQ:PDD) Holdings Decreased by Naviter Wealth LLC

Naviter Wealth LLC lowered its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,349 shares of the company's stock after selling 2,597 shares during the quarter. Naviter Wealth LLC's holdings in PDD were worth $1,295,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PDD. Baillie Gifford & Co. increased its position in shares of PDD by 5.4% during the fourth 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 grew its stake 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 purchasing an additional 1,654,764 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PDD by 1,374.3% during the 3rd 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. Geode Capital Management LLC raised its position in shares of PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock valued at $627,104,000 after purchasing an additional 513,248 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. boosted its stake in shares of PDD by 2.6% during the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 4,635,519 shares of the company's stock valued at $449,599,000 after buying an additional 117,733 shares during the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PDD. Dbs Bank lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Benchmark decreased their price target on PDD from $185.00 to $160.00 and set a "buy" rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered 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 report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their target price on PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.

PDD Stock Performance

Shares of PDD stock traded down $0.12 during trading on Wednesday, hitting $117.86. 5,631,436 shares of the stock were exchanged, compared to its average volume of 8,628,079. 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 12 month low of $88.01 and a 12 month high of $164.69. The stock's fifty day moving average is $111.50 and its 200 day moving average is $111.71. The stock has a market cap of $162.16 billion, a PE ratio of 11.51, a P/E/G ratio of 0.32 and a beta of 0.69.

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.