Trivest Advisors Ltd Sells 773,700 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Trivest Advisors Ltd decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 62.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 460,000 shares of the company’s stock after selling 773,700 shares during the quarter. PDD accounts for approximately 2.0% of Trivest Advisors Ltd’s investment portfolio, making the stock its 19th biggest holding. Trivest Advisors Ltd’s holdings in PDD were worth $44,615,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd grew its stake in shares of PDD by 1,218.9% in the 3rd 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 in the last quarter. Lord Abbett & CO. LLC boosted its holdings in PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $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 in the 3rd quarter worth about $74,221,000. Headwater Capital Co Ltd purchased a new stake in PDD in the 4th quarter valued at about $9,699,000. Finally, Baillie Gifford & Co. boosted its stake in shares of PDD by 5.4% in 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 last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 1.6 %

Shares of PDD stock opened at $126.79 on Wednesday. The stock has a market capitalization of $174.45 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 0.32 and a beta of 0.69. The company’s fifty day simple moving average is $113.99 and its two-hundred day simple moving average is $112.70. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Ratings Changes

A number of analysts recently commented on the company. Benchmark dropped their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group dropped 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. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

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.