Two Sigma Securities LLC Sells 45,833 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Two Sigma Securities LLC decreased its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 86.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,067 shares of the company's stock after selling 45,833 shares during the quarter. Two Sigma Securities LLC's holdings in PDD were worth $685,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of PDD during the fourth quarter valued at approximately $812,246,000. Sanders Capital LLC acquired a new position in PDD during the 4th quarter valued at approximately $499,972,000. FMR LLC grew its stake in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. FIL Ltd increased its position in PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after buying an additional 3,350,627 shares during the period. Finally, Capital International Investors bought a new stake in PDD in the fourth quarter valued at $246,823,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PDD shares. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Citigroup reiterated a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Finally, Benchmark reiterated a "buy" rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Five equities 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 company. According to data from MarketBeat, PDD has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

PDD Stock Up 1.0 %

PDD stock traded up $1.06 during mid-day trading on Tuesday, hitting $104.15. The company's stock had a trading volume of 4,678,489 shares, compared to its average volume of 11,250,259. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69. The firm's 50 day moving average is $111.80 and its 200 day moving average is $110.58. The company has a market cap of $143.30 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

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.