PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 587,302 shares of the company’s stock after selling 15,462 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PDD were worth $56,962,000 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 business. Jones Financial Companies Lllp boosted its position in PDD by 8.7% in 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 lifted its stake in 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 period. New York Life Investment Management LLC lifted its stake in PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after acquiring an additional 139 shares during the period. Cibc World Markets Corp boosted its holdings in shares of PDD by 1.1% in the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after acquiring an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after acquiring an additional 249 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the topic of several recent research reports. Jefferies Financial Group lowered their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their price target on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

Shares of NASDAQ PDD opened at $125.25 on Wednesday. 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 firm has a fifty day moving average of $116.94 and a 200 day moving average of $113.86. The firm has a market cap of $172.33 billion, a PE ratio of 12.23, a PEG ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a one year low of $88.01 and a one year high of $164.69.

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.