PARUS FINANCE UK Ltd Sells 9,654 Shares of PDD Holdings Inc. (NASDAQ:PDD)

PARUS FINANCE UK Ltd trimmed its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,714 shares of the company's stock after selling 9,654 shares during the period. PDD comprises 6.7% of PARUS FINANCE UK Ltd's holdings, making the stock its 5th largest position. PARUS FINANCE UK Ltd's holdings in PDD were worth $21,310,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PDD. Baillie Gifford & Co. grew its position in shares of PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares during the period. Vanguard Group Inc. grew its holdings in PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock valued at $2,779,986,000 after purchasing an additional 268,662 shares during the period. Norges Bank acquired a new stake in PDD in the fourth quarter valued at approximately $812,246,000. Appaloosa LP increased its position in shares of PDD by 1.0% in the fourth quarter. Appaloosa LP now owns 5,356,132 shares of the company's stock valued at $519,491,000 after buying an additional 55,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of PDD by 12.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock worth $627,104,000 after buying an additional 513,248 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

PDD has been the subject of several research reports. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Jefferies Financial Group dropped their target price on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Benchmark reaffirmed a "buy" rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Five research 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's stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Down 1.7 %

NASDAQ PDD traded down $2.10 during trading on Monday, reaching $118.35. 6,745,772 shares of the company's stock were exchanged, compared to its average volume of 10,674,020. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The stock has a market cap of $162.83 billion, a P/E ratio of 11.56, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a 50 day moving average price of $118.16 and a two-hundred day moving average price of $114.47.

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.