Keystone Investors PTE Ltd. Sells 1,233,340 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Keystone Investors PTE Ltd. lessened its position in PDD Holdings Inc. (NASDAQ:PDD) by 97.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,805 shares of the company’s stock after selling 1,233,340 shares during the period. Keystone Investors PTE Ltd.’s holdings in PDD were worth $3,667,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PDD. Gordian Capital Singapore Pte Ltd grew its stake in shares of PDD by 1,218.9% in the third quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after acquiring an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC grew its position in PDD by 63.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock valued at $5,155,000 after purchasing an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new stake in PDD during the 3rd quarter valued at about $74,221,000. Headwater Capital Co Ltd purchased a new position in PDD in the fourth quarter worth about $9,699,000. Finally, Baillie Gifford & Co. lifted its stake in shares of PDD by 5.4% in 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 in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PDD. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Benchmark restated a “buy” rating and set a $160.00 target price on shares of PDD in a research note on Friday. Jefferies Financial Group dropped 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. Finally, Nomura reissued a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Price Performance

NASDAQ PDD opened at $128.12 on Tuesday. The business’s fifty day moving average is $116.40 and its 200 day moving average is $113.63. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. 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 company has a market capitalization of $176.28 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.