Franchise Capital Ltd Has $60.93 Million Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Franchise Capital Ltd lowered its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 19.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 514,820 shares of the company's stock after selling 121,404 shares during the period. PDD makes up 34.1% of Franchise Capital Ltd's portfolio, making the stock its biggest position. Franchise Capital Ltd's holdings in PDD were worth $60,929,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairtree Asset Management Pty Ltd acquired a new stake in PDD in the 4th quarter valued at approximately $5,531,000. California State Teachers Retirement System increased its holdings in shares of PDD by 7.1% during the 4th quarter. California State Teachers Retirement System now owns 324,354 shares of the company's stock worth $31,459,000 after acquiring an additional 21,507 shares during the last quarter. 111 Capital acquired a new position in shares of PDD during the 4th quarter worth approximately $508,000. Wealthedge Investment Advisors LLC bought a new stake in PDD in the 4th quarter valued at $666,000. Finally, Siemens Fonds Invest GmbH bought a new stake in PDD in the 4th quarter valued at $192,000. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

PDD has been the topic of several analyst reports. Benchmark reduced their target price on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Citigroup raised PDD from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Barclays restated an "equal weight" rating on shares of PDD in a research report on Sunday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PDD presently has a consensus rating of "Moderate Buy" and an average target price of $144.55.

PDD Trading Down 0.3%

Shares of PDD stock traded down $0.32 during mid-day trading on Monday, reaching $96.19. 4,075,431 shares of the stock traded hands, compared to its average volume of 10,172,247. The stock's fifty day simple moving average is $106.92 and its two-hundred day simple moving average is $108.73. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market cap of $133.91 billion, a price-to-earnings ratio of 9.39, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.