Trivest Advisors Ltd Sells 773,700 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Trivest Advisors Ltd lowered its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 460,000 shares of the company's stock after selling 773,700 shares during the period. PDD accounts for approximately 2.0% of Trivest Advisors Ltd's portfolio, making the stock its 19th largest holding. Trivest Advisors Ltd's holdings in PDD were worth $44,615,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vinva Investment Management Ltd raised its position in shares of PDD by 65.3% in the fourth quarter. Vinva Investment Management Ltd now owns 2,971 shares of the company's stock worth $280,000 after buying an additional 1,174 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of PDD by 12.5% in the fourth quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 309,285 shares of the company's stock worth $29,999,000 after buying an additional 34,390 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of PDD in the fourth quarter worth $165,000. Thrivent Financial for Lutherans raised its position in shares of PDD by 71.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,323 shares of the company's stock worth $4,008,000 after buying an additional 17,286 shares in the last quarter. Finally, Cibc World Markets Corp raised its position in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

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Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. Benchmark reiterated a "buy" rating and issued a $160.00 price objective on shares of PDD in a research report on Friday. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday. Jefferies Financial Group reduced their target price on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Trading Down 3.3 %

Shares of NASDAQ:PDD traded down $4.28 on Friday, reaching $126.64. 13,449,853 shares of the company traded hands, compared to its average volume of 10,430,438. The business's 50-day simple moving average is $115.75 and its 200 day simple moving average is $113.38. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market capitalization of $174.24 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. 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 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.