Keystone Investors PTE Ltd. Sells 58,997 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Keystone Investors PTE Ltd. trimmed its stake in PDD Holdings Inc. (NASDAQ:PDDFree Report) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 722,032 shares of the company’s stock after selling 58,997 shares during the period. PDD comprises approximately 8.9% of Keystone Investors PTE Ltd.’s investment portfolio, making the stock its 5th biggest position. Keystone Investors PTE Ltd. owned approximately 0.05% of PDD worth $105,641,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Monolith Management Ltd bought a new stake in shares of PDD in the 4th quarter valued at $53,549,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in PDD during the 4th quarter worth about $214,000. Massachusetts Financial Services Co. MA raised its position in shares of PDD by 21.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 133,037 shares of the company’s stock worth $19,465,000 after acquiring an additional 23,429 shares in the last quarter. Avantax Advisory Services Inc. acquired a new position in shares of PDD in the 4th quarter valued at about $249,000. Finally, Checchi Capital Advisers LLC boosted its position in shares of PDD by 23.0% during the 4th quarter. Checchi Capital Advisers LLC now owns 3,725 shares of the company’s stock valued at $545,000 after purchasing an additional 696 shares in the last quarter. 29.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Citigroup lifted their target price on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a research report on Monday, March 11th. Barclays raised their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Benchmark upped their price objective on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Finally, Jefferies Financial Group increased their price objective on shares of PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.85.

Get Our Latest Stock Analysis on PDD

PDD Stock Up 1.4 %

Shares of NASDAQ:PDD traded up $1.93 during mid-day trading on Wednesday, hitting $140.62. 3,208,616 shares of the company traded hands, compared to its average volume of 8,344,359. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $123.57 and a two-hundred day moving average price of $129.26. PDD Holdings Inc. has a 12-month low of $59.98 and a 12-month high of $152.99. The stock has a market cap of $193.47 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.36 and a beta of 0.67.

PDD (NASDAQ:PDDGet Free Report) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. On average, equities research analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

About PDD

(Free Report)

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.

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Institutional Ownership by Quarter for PDD (NASDAQ:PDD)

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