PDD Holdings Inc. (NASDAQ:PDD) Stock Position Lessened by Hhlr Advisors LTD.

Hhlr Advisors LTD. decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 46.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,766,780 shares of the company’s stock after selling 4,125,667 shares during the quarter. PDD accounts for about 14.1% of Hhlr Advisors LTD.’s investment portfolio, making the stock its 3rd largest position. Hhlr Advisors LTD.’s holdings in PDD were worth $642,610,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TB Alternative Assets Ltd. lifted its holdings in PDD by 33.7% during the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock valued at $23,342,000 after purchasing an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in PDD by 13.3% during the third quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock valued at $31,589,000 after purchasing an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock valued at $30,700,000 after purchasing an additional 89,853 shares in the last quarter. BOCHK Asset Management Ltd lifted its holdings in PDD by 3,391.7% during the third quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock valued at $5,649,000 after purchasing an additional 40,700 shares in the last quarter. Finally, M&G PLC lifted its holdings in PDD by 14.2% during the third quarter. M&G PLC now owns 247,417 shares of the company’s stock valued at $33,401,000 after purchasing an additional 30,817 shares in the last quarter. Hedge funds and other institutional investors own 29.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PDD shares. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Daiwa America upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays reduced their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Finally, Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. Three 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Trading Down 2.3 %

Shares of PDD opened at $96.56 on Friday. The company’s fifty day moving average is $123.25 and its 200 day moving average is $128.41. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The stock has a market capitalization of $132.85 billion, a PE ratio of 9.43, a P/E/G ratio of 0.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

About PDD

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.