Keystone Investors PTE Ltd. Cuts Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Keystone Investors PTE Ltd. cut its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 97.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,805 shares of the company’s stock after selling 1,233,340 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in PDD were worth $3,667,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after acquiring an additional 12,253,589 shares in the last quarter. H&H International Investment LLC increased its holdings in shares of PDD by 3,693.8% in the third 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. Baillie Gifford & Co. lifted its position in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after buying an additional 1,942,891 shares in the last quarter. FMR LLC boosted its stake in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares during the last quarter. Finally, Capital Today Evergreen Fund L.P. increased its stake in PDD by 60.1% in the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock worth $241,853,000 after acquiring an additional 935,854 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group dropped their price objective 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. Benchmark reaffirmed a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday. Nomura reissued a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note 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 research note on Friday. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Price Performance

Shares of NASDAQ PDD opened at $128.12 on Tuesday. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business’s 50 day moving average price is $116.40 and its 200 day moving average price is $113.63. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market cap of $176.28 billion, a P/E ratio of 12.51, a P/E/G ratio of 0.32 and a beta of 0.69.

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.