Prudential PLC lowered its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 7.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,305,809 shares of the company's stock after selling 112,033 shares during the period. PDD accounts for approximately 0.6% of Prudential PLC's portfolio, making the stock its 13th biggest holding. Prudential PLC owned approximately 0.09% of PDD worth $126,650,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new position in shares of PDD during the fourth quarter worth about $39,000. Brooklyn Investment Group increased its stake in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Nomura reiterated a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, Benchmark reaffirmed a "buy" rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.
Check Out Our Latest Report on PDD
PDD Price Performance
PDD traded down $4.21 on Wednesday, reaching $89.77. The company had a trading volume of 16,696,333 shares, compared to its average volume of 10,956,046. The company has a fifty day moving average of $118.20 and a 200-day moving average of $114.92. The company has a market capitalization of $123.51 billion, a P/E ratio of 8.78, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69. 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 Profile
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Free Report)
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.
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