Swedbank AB Sells 73,800 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Swedbank AB trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 358,715 shares of the company’s stock after selling 73,800 shares during the quarter. Swedbank AB’s holdings in PDD were worth $34,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. grew its position in PDD by 2.8% during the third quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock valued at $4,868,859,000 after buying an additional 988,042 shares during the period. FMR LLC grew its position in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 in the last quarter. Geode Capital Management LLC raised its holdings 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 period. Finally, H&H International Investment LLC lifted its position in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

NASDAQ PDD opened at $115.40 on Friday. 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 1-year low of $88.01 and a 1-year high of $164.69. The business has a 50 day simple moving average of $101.19 and a two-hundred day simple moving average of $115.54. The stock has a market capitalization of $158.78 billion, a PE ratio of 11.27, a P/E/G ratio of 0.27 and a beta of 0.66.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PDD shares. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group reduced their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $126.00 to $224.00 in a research note on Monday, October 7th. Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

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.