PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. lowered its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 99.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 466 shares of the company’s stock after selling 62,015 shares during the period. Ramirez Asset Management Inc.’s holdings in PDD were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PDD. Baillie Gifford & Co. lifted its holdings in 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 in the last quarter. Vanguard Group Inc. grew its stake in PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after purchasing an additional 268,662 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in PDD by 1,374.3% during 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 purchasing an additional 12,253,589 shares during the last quarter. Norges Bank bought a new stake in shares of PDD in the fourth quarter worth $812,246,000. Finally, Appaloosa LP boosted its stake in PDD by 1.0% during the 4th quarter. Appaloosa LP now owns 5,356,132 shares of the company’s stock valued at $519,491,000 after acquiring an additional 55,000 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

NASDAQ:PDD opened at $124.36 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 business’s 50-day moving average price is $117.86 and its 200 day moving average price is $113.99. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The firm has a market cap of $171.10 billion, a P/E ratio of 12.14, a PEG ratio of 0.32 and a beta of 0.69.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PDD shares. Citigroup restated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Nomura Securities downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Jefferies Financial Group reduced their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Benchmark reiterated a “buy” rating and set a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Five investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $169.91.

About PDD

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.