PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by All Stars Investment Ltd

All Stars Investment Ltd lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 61.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 position. All Stars Investment Ltd’s holdings in PDD were worth $3,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PDD. Envestnet Asset Management Inc. lifted its holdings in PDD by 263.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 102,006 shares of the company’s stock worth $13,562,000 after purchasing an additional 73,908 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of PDD by 56.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,219 shares of the company’s stock valued at $1,757,000 after purchasing an additional 4,750 shares during the period. Beck Bode LLC acquired a new stake in shares of PDD in the second quarter worth $16,113,000. Intech Investment Management LLC boosted its holdings in shares of PDD by 9.9% during the 2nd quarter. Intech Investment Management LLC now owns 16,397 shares of the company’s stock worth $2,180,000 after buying an additional 1,475 shares during the period. Finally, Pacer Advisors Inc. grew its stake in PDD by 1.7% in the 2nd quarter. Pacer Advisors Inc. now owns 32,140 shares of the company’s stock valued at $4,273,000 after buying an additional 540 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analyst Ratings Changes

PDD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of 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 report on Friday, November 22nd. Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Jefferies Financial Group reduced their price objective on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Down 1.3 %

Shares of PDD stock opened at $104.15 on Wednesday. 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 fifty day moving average of $102.14 and a 200-day moving average of $116.85. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a market cap of $143.30 billion, a price-to-earnings ratio of 10.17, a P/E/G ratio of 0.27 and a beta of 0.66.

PDD 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.