PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC reduced its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 34.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,707 shares of the company’s stock after selling 4,599 shares during the quarter. Sanctuary Advisors LLC’s holdings in PDD were worth $844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after acquiring an additional 12,253,589 shares during the last quarter. H&H International Investment LLC increased its stake in PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. raised its holdings in PDD by 5.4% during the 4th 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 during the period. FMR LLC lifted its stake in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after buying an additional 1,654,764 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in PDD by 100.5% during the third quarter. HighTower Advisors LLC now owns 4,129 shares of the company’s stock valued at $559,000 after buying an additional 800,614 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PDD. Benchmark dropped their target price 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. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group decreased their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Price Performance

NASDAQ PDD opened at $118.68 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $163.29 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.32 and a beta of 0.66. PDD Holdings Inc. has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a 50 day moving average price of $108.58 and a two-hundred day moving average price of $113.76.

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.