Teachers Retirement System of The State of Kentucky Sells 11,300 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Teachers Retirement System of The State of Kentucky lessened its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 9.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,000 shares of the company's stock after selling 11,300 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in PDD were worth $14,020,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PDD. Gordian Capital Singapore Pte Ltd grew its holdings in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock worth $942,000 after purchasing an additional 6,460 shares during the last quarter. TB Alternative Assets Ltd. grew its holdings in shares of PDD by 33.7% in the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company's stock worth $23,342,000 after purchasing an additional 43,648 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of PDD by 13.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company's stock worth $31,589,000 after purchasing an additional 27,567 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of PDD by 63.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company's stock worth $30,700,000 after purchasing an additional 89,853 shares during the last quarter. Finally, BOCHK Asset Management Ltd grew its holdings in shares of PDD by 3,391.7% in the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company's stock worth $5,649,000 after purchasing an additional 40,700 shares during the last quarter. Institutional investors own 39.83% of the company's stock.

PDD Trading Up 1.2 %

PDD stock traded up $1.24 during trading hours on Thursday, reaching $104.66. 8,524,832 shares of the company's stock traded hands, compared to its average volume of 10,724,813. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. 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 capitalization of $144.00 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 0.29 and a beta of 0.67. The firm's 50 day moving average is $118.95 and its 200-day moving average is $125.76.

Analysts Set New Price Targets

PDD has been the topic of several analyst reports. Bank of America lowered their target price on shares of PDD from $206.00 to $170.00 and set a "buy" rating on the stock in a report on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a "strong-buy" rating in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their price target on shares of PDD from $235.00 to $170.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 27th. Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a research report on Thursday, November 21st. Finally, 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. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, PDD currently has an average rating of "Moderate Buy" and a consensus price target 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.