PDD Holdings Inc. (NASDAQ:PDD) Position Lowered by Carrhae Capital LLP

Carrhae Capital LLP reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 86.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,220 shares of the company’s stock after selling 387,740 shares during the period. PDD accounts for approximately 0.5% of Carrhae Capital LLP’s holdings, making the stock its 21st biggest holding. Carrhae Capital LLP’s holdings in PDD were worth $5,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after acquiring an additional 97 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the last quarter. New York Life Investment Management LLC boosted its position in PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp grew its stake in PDD by 1.1% during the 4th quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after buying an additional 164 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in PDD by 50.9% in the third quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the subject of several recent research reports. Nomura restated a “neutral” rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group dropped their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

NASDAQ:PDD opened at $128.12 on Tuesday. The company has a 50-day moving average of $116.40 and a 200-day moving average of $113.63. The firm has a market cap of $176.28 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. 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 Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69.

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.