PDD Holdings Inc. (NASDAQ:PDD) is Krane Funds Advisors LLC’s Largest Position

Krane Funds Advisors LLC trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 14.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,825,103 shares of the company’s stock after selling 482,997 shares during the period. PDD makes up about 11.2% of Krane Funds Advisors LLC’s holdings, making the stock its biggest holding. Krane Funds Advisors LLC’s holdings in PDD were worth $274,007,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in shares of PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after buying an additional 97 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after acquiring an additional 139 shares during the period. Cibc World Markets Corp raised its holdings in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock valued at $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

PDD opened at $104.21 on Monday. 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 stock has a market capitalization of $143.38 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.32 and a beta of 0.73. The company has a fifty day moving average of $119.14 and a 200 day moving average of $115.11. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PDD shares. Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group cut their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average target price of $169.91.

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.