PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by WIM INVESTMENT MANAGEMENT Ltd

WIM INVESTMENT MANAGEMENT Ltd reduced its stake in PDD Holdings Inc. (NASDAQ:PDD) by 3.1% in the 4th quarter, Holdings Channel reports. The firm owned 264,468 shares of the company’s stock after selling 8,500 shares during the period. PDD accounts for approximately 8.8% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 4th biggest position. WIM INVESTMENT MANAGEMENT Ltd’s holdings in PDD were worth $25,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Baillie Gifford & Co. lifted its holdings in shares of PDD by 5.4% during the fourth 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 during the last quarter. FMR LLC lifted its holdings in shares of PDD by 8.6% during the third 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 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 valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Appaloosa LP increased its position in shares of PDD by 1.0% during the fourth quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock valued at $519,491,000 after purchasing an additional 55,000 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock valued at $627,104,000 after purchasing an additional 513,248 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Trading Down 1.6 %

Shares of PDD opened at $126.79 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. 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 $174.45 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock’s fifty day simple moving average is $113.99 and its 200-day simple moving average is $112.70.

Analyst Ratings Changes

A number of analysts have recently issued reports on PDD shares. JPMorgan Chase & Co. cut 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. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Finally, Jefferies Financial Group reduced their price objective on PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Three 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 stock. According to data from MarketBeat, the company has an average 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.