PDD Holdings Inc. (NASDAQ:PDD) Holdings Decreased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 77.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,750 shares of the company’s stock after selling 59,964 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PDD were worth $1,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital International Inc. CA acquired a new stake in shares of PDD during the fourth quarter worth approximately $7,442,000. Dimensional Fund Advisors LP boosted its stake in shares of PDD by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,672,902 shares of the company’s stock valued at $258,988,000 after buying an additional 186,025 shares during the period. Capital International Investors purchased a new position in shares of PDD during the 4th quarter valued at $246,823,000. Capital International Sarl acquired a new position in shares of PDD in the fourth quarter worth $458,000. Finally, Twenty Acre Capital LP raised its holdings in shares of PDD by 75.6% during the fourth quarter. Twenty Acre Capital LP now owns 61,300 shares of the company’s stock worth $5,945,000 after acquiring an additional 26,400 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their price objective on shares of 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. raised their target price on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Nomura reissued a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.91.

PDD Stock Performance

Shares of NASDAQ PDD opened at $94.36 on Tuesday. The firm has a market capitalization of $129.83 billion, a price-to-earnings ratio of 9.21, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69. The business has a fifty day simple moving average of $114.07 and a 200 day simple moving average of $112.09. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.