PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in PDD Holdings Inc. (NASDAQ:PDD) by 7.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 416,331 shares of the company’s stock after selling 35,811 shares during the quarter. Handelsbanken Fonder AB’s holdings in PDD were worth $60,913,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its holdings in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock valued at $27,000 after buying an additional 209 shares in the last quarter. Altshuler Shaham Ltd bought a new position in shares of PDD in the fourth quarter valued at $43,000. Turim 21 Investimentos Ltda. bought a new position in shares of PDD in the third quarter valued at $55,000. Captrust Financial Advisors increased its holdings in shares of PDD by 108.5% in the first quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock valued at $26,000 after buying an additional 331 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after buying an additional 140 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Citigroup boosted their target price on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group upped their price target on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Benchmark upped their price target on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research note on Monday, March 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Stock Performance

PDD stock traded down $0.21 during mid-day trading on Friday, reaching $113.49. 9,408,029 shares of the stock traded hands, compared to its average volume of 6,467,566. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. PDD Holdings Inc. has a 52 week low of $59.67 and a 52 week high of $152.99. The business has a 50-day moving average of $122.31 and a two-hundred day moving average of $125.86. The firm has a market capitalization of $149.76 billion, a PE ratio of 19.81, a P/E/G ratio of 0.29 and a beta of 0.67.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion during the quarter, compared to analysts’ expectations of $11.80 billion. As a group, equities analysts predict that PDD Holdings Inc. will post 7.85 EPS for the current fiscal year.

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.