PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Oaktree Fund Advisors LLC

Oaktree Fund Advisors LLC cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,631 shares of the company's stock after selling 2,400 shares during the period. PDD accounts for about 2.9% of Oaktree Fund Advisors LLC's portfolio, making the stock its 13th largest position. Oaktree Fund Advisors LLC's holdings in PDD were worth $1,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PDD. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the fourth quarter worth about $39,000. Brooklyn Investment Group increased its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC increased its holdings in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC raised its position in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after acquiring an additional 249 shares during the period. Hedge funds and other institutional investors own 39.83% of the company's stock.

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Wall Street Analyst Weigh In

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

PDD Price Performance

NASDAQ:PDD traded up $3.84 during trading hours on Tuesday, reaching $122.19. 7,064,924 shares of the company were exchanged, compared to its average volume of 10,659,710. The stock's 50-day moving average is $118.41 and its 200-day moving average is $114.61. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $168.12 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. 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 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.