Schroder Investment Management Group Sells 16,493,581 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Schroder Investment Management Group lowered its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 89.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,050 shares of the company's stock after selling 16,493,581 shares during the quarter. Schroder Investment Management Group owned about 0.15% of PDD worth $197,961,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC bought a new stake in shares of PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group raised its position in PDD by 340.3% during 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 in the last quarter. Global Retirement Partners LLC lifted its stake in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake 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 own 39.83% of the company's stock.

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PDD Trading Up 3.2 %

Shares of PDD stock traded up $3.84 during midday trading on Tuesday, reaching $122.19. The company had a trading volume of 7,064,924 shares, compared to its average volume of 10,659,710. The stock has a fifty day moving average price of $118.41 and a 200 day moving average price of $114.61. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The firm has a market cap of $168.12 billion, a PE ratio of 11.93, a P/E/G ratio of 0.32 and a beta of 0.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analysts Set New Price Targets

PDD has been the topic of several research analyst reports. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday, March 20th. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Nomura reiterated a "neutral" rating and set a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. raised their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $169.91.

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.