PDD Holdings Inc. (NASDAQ:PDD) Holdings Lessened by FACT Capital LP

FACT Capital LP reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,338 shares of the company's stock after selling 7,745 shares during the period. PDD makes up approximately 5.4% of FACT Capital LP's investment portfolio, making the stock its 8th biggest holding. FACT Capital LP's holdings in PDD were worth $12,351,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the fourth quarter worth about $39,000. Global Retirement Partners LLC raised its stake in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of PDD by 30.9% in the fourth 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. EverSource Wealth Advisors LLC raised its stake in shares of 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 last quarter. Finally, Stephens Consulting LLC purchased a new position in shares of PDD in the fourth quarter worth about $97,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the subject of a number of analyst reports. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Nomura reissued a "neutral" rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group lowered their target price 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. Finally, Benchmark restated a "buy" rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Four 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $164.20.

PDD Price Performance

Shares of NASDAQ:PDD traded down $0.56 during midday trading on Friday, hitting $119.24. The company had a trading volume of 7,581,673 shares, compared to its average volume of 10,921,449. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month 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 stock has a market cap of $166.00 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The business's 50-day simple moving average is $109.36 and its 200-day simple moving average is $109.34.

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.