PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Franchise Capital Ltd

Franchise Capital Ltd lessened its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 636,224 shares of the company's stock after selling 210,000 shares during the quarter. PDD comprises approximately 28.6% of Franchise Capital Ltd's portfolio, making the stock its 2nd largest position. Franchise Capital Ltd's holdings in PDD were worth $61,707,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Baillie Gifford & Co. raised its stake in shares of PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock valued at $4,868,859,000 after acquiring an additional 988,042 shares during the period. FMR LLC raised its position in PDD by 8.6% in the third 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PDD by 1,374.3% during the third 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 in the last quarter. Tairen Capital Ltd boosted its position in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company's stock worth $715,055,000 after buying an additional 1,788,076 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of PDD by 13.0% during the second quarter. Legal & General Group Plc now owns 5,332,414 shares of the company's stock worth $708,944,000 after buying an additional 612,119 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

PDD traded down $0.07 during trading on Friday, reaching $96.82. The company's stock had a trading volume of 4,657,543 shares, compared to its average volume of 4,779,621. The company has a market capitalization of $133.21 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The company's fifty day moving average price is $107.41 and its 200-day moving average price is $120.46. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Analysts Set New Price Targets

Several research firms recently issued reports on PDD. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. Benchmark reduced their price target on shares of PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut shares of PDD from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Jefferies Financial Group dropped their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating for the company in a research note on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $173.40.

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.