MML Investors Services LLC Has $479,000 Holdings in PDD Holdings Inc. (NASDAQ:PDD)

MML Investors Services LLC cut its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 59.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,555 shares of the company’s stock after selling 5,319 shares during the period. MML Investors Services LLC’s holdings in PDD were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PDD. Baillie Gifford & Co. boosted its stake in shares of PDD by 2.8% during the 3rd quarter. Baillie Gifford & Co. now owns 36,116,452 shares of the company’s stock worth $4,868,859,000 after buying an additional 988,042 shares during the last quarter. FMR LLC raised its holdings in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after acquiring an additional 1,654,764 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in PDD by 1,374.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. Tairen Capital Ltd grew its stake in PDD by 49.8% in the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock valued at $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of PDD by 13.0% during the 2nd quarter. Legal & General Group Plc now owns 5,332,414 shares of the company’s stock worth $708,944,000 after purchasing an additional 612,119 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PDD. Macquarie raised PDD from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $126.00 to $224.00 in a report on Monday, October 7th. Barclays decreased their price objective on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research report on Tuesday, August 27th. Nomura Securities raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark reduced their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Daiwa America upgraded PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Performance

NASDAQ:PDD opened at $99.51 on Monday. The stock has a 50 day simple moving average of $112.52 and a 200 day simple moving average of $123.37. The stock has a market cap of $136.91 billion, a P/E ratio of 9.72, a PEG ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.