Robeco Institutional Asset Management B.V. trimmed its holdings in PDD Holdings Inc. (NASDAQ:PDD – Free Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,149,516 shares of the company’s stock after selling 85,959 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.16% of PDD worth $208,482,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in shares of PDD by 1.6% in the 4th quarter. Pacer Advisors Inc. now owns 33,287 shares of the company’s stock worth $3,229,000 after acquiring an additional 531 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of PDD in the fourth quarter worth $1,343,000. Blue Trust Inc. increased its stake in shares of PDD by 33.7% in the fourth quarter. Blue Trust Inc. now owns 6,132 shares of the company’s stock worth $595,000 after buying an additional 1,547 shares during the period. RV Capital AG increased its stake in shares of PDD by 8.2% in the fourth quarter. RV Capital AG now owns 345,489 shares of the company’s stock worth $33,509,000 after buying an additional 26,100 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new position in shares of PDD in the fourth quarter worth $1,833,000. 39.83% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PDD. Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.40.
PDD Stock Performance
Shares of PDD stock opened at $112.18 on Wednesday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market cap of $154.35 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 0.27 and a beta of 0.66. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $101.28 and its 200-day moving average price is $115.57.
PDD Company 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.
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