All Stars Investment Ltd lessened its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 61.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,500 shares of the company's stock after selling 65,600 shares during the quarter. PDD comprises about 1.4% of All Stars Investment Ltd's investment portfolio, making the stock its 3rd biggest holding. All Stars Investment Ltd's holdings in PDD were worth $3,928,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in PDD by 2.8% in the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company's stock valued at $4,868,859,000 after acquiring an additional 988,042 shares during the last quarter. FMR LLC lifted 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 purchasing an additional 1,654,764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 worth $1,772,106,000 after buying an additional 12,253,589 shares in the last quarter. Legal & General Group Plc grew its position in PDD by 13.0% in the second quarter. Legal & General Group Plc now owns 5,332,414 shares of the company's stock worth $708,944,000 after buying an additional 612,119 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of PDD by 12.3% in the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company's stock valued at $627,104,000 after buying an additional 513,248 shares in the last quarter. Institutional investors own 39.83% of the company's stock.
PDD stock opened at $104.15 on Wednesday. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. 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 has a market cap of $143.30 billion, a PE ratio of 10.17, a P/E/G ratio of 0.27 and a beta of 0.66. The firm's 50 day moving average price is $102.14 and its two-hundred day moving average price is $116.85.
Several equities research analysts have recently weighed in on the company. Dbs Bank lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered PDD from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark cut their price objective on PDD from $185.00 to $160.00 and set a "buy" rating on the stock in a report on Friday, November 22nd. Macquarie upgraded shares of PDD from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $126.00 to $224.00 in a report on Monday, October 7th. Finally, Jefferies Financial Group cut their price target on shares of PDD from $181.00 to $171.00 and set a "buy" rating on the stock in a report on Thursday, November 21st. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and a consensus price target of $173.40.
Get Our Latest Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider PDD, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PDD wasn't on the list.
While PDD currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.