Mitsubishi UFJ Trust & Banking Corp Sells 15,462 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 587,302 shares of the company’s stock after selling 15,462 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PDD were worth $56,962,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in shares of PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group lifted its stake in shares of PDD by 340.3% during the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after acquiring an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after acquiring an additional 498 shares during the period. Farther Finance Advisors LLC grew its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in PDD by 43.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Nomura restated a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Jefferies Financial Group reduced their target price 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. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Finally, Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $169.91.

PDD Price Performance

Shares of PDD stock opened at $125.25 on Wednesday. The stock’s 50-day moving average is $116.94 and its 200 day moving average is $113.86. 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. The company has a market cap of $172.33 billion, a P/E ratio of 12.23, a PEG ratio of 0.32 and a beta of 0.69.

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.