IDG China Venture Capital Fund IV Associates L.P. Sells 177,300 Shares of PDD Holdings Inc. (NASDAQ:PDD)

IDG China Venture Capital Fund IV Associates L.P. cut its position in PDD Holdings Inc. (NASDAQ:PDD) by 5.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,910,430 shares of the company’s stock after selling 177,300 shares during the quarter. PDD makes up approximately 65.5% of IDG China Venture Capital Fund IV Associates L.P.’s investment portfolio, making the stock its largest holding. IDG China Venture Capital Fund IV Associates L.P.’s holdings in PDD were worth $282,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. grew its stake in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. FMR LLC grew its position in PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after purchasing an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Geode Capital Management LLC grew its position in PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after purchasing an additional 513,248 shares during the last quarter. Finally, H&H International Investment LLC grew its position in PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of PDD stock opened at $113.69 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50-day simple moving average is $108.86 and its 200-day simple moving average is $113.14. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $156.42 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67.

Analyst Ratings Changes

PDD has been the topic of several research analyst reports. Jefferies Financial Group decreased 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. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Benchmark decreased 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 investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $173.40.

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.