Signaturefd LLC Trims Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Signaturefd LLC cut its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,838 shares of the company’s stock after selling 241 shares during the period. Signaturefd LLC’s holdings in PDD were worth $857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of PDD by 1,374.3% during 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 buying an additional 12,253,589 shares in the last quarter. H&H International Investment LLC raised its stake in shares of PDD by 3,693.8% during the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after buying an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of PDD by 5.4% during the 4th 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 raised its stake in shares of PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after buying an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. raised its stake in shares of PDD by 60.1% during 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 buying an additional 935,854 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Trading Down 0.7 %

NASDAQ:PDD opened at $125.92 on Thursday. The business’s 50-day moving average is $114.50 and its two-hundred day moving average is $112.79. 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 12 month low of $88.01 and a 12 month high of $164.69. The firm has a market capitalization of $173.25 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PDD shares. Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Three investment 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. Based on data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus 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.