Korea Investment CORP Sells 10,700 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Korea Investment CORP lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 530,787 shares of the company’s stock after selling 10,700 shares during the period. Korea Investment CORP’s holdings in PDD were worth $51,481,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Baillie Gifford & Co. grew its stake in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after buying an additional 268,662 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PDD by 1,374.3% in 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 acquiring an additional 12,253,589 shares during the period. Appaloosa LP grew its stake in shares of PDD by 1.0% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in PDD by 12.3% during the third quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock worth $627,104,000 after acquiring an additional 513,248 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

PDD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, March 21st. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Benchmark reissued a “buy” rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Nomura reissued a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Trading Up 1.5 %

NASDAQ PDD opened at $124.36 on Friday. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month 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. The firm has a market capitalization of $171.10 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The business’s 50-day moving average price is $117.86 and its two-hundred day moving average price is $113.99.

PDD 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.