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

Franchise Capital Ltd trimmed its position in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 514,820 shares of the company's stock after selling 121,404 shares during the period. PDD comprises approximately 34.1% of Franchise Capital Ltd's portfolio, making the stock its biggest holding. Franchise Capital Ltd's holdings in PDD were worth $60,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC purchased a new stake in shares of PDD during the fourth quarter worth $39,000. Global Retirement Partners LLC increased its position in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares during the last quarter. Farther Finance Advisors LLC increased its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after buying an additional 249 shares during the last quarter. Finally, Stephens Consulting LLC acquired a new position in PDD during the fourth quarter worth $97,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of NASDAQ:PDD traded down $1.56 during midday trading on Friday, hitting $96.73. The company's stock had a trading volume of 17,167,316 shares, compared to its average volume of 11,094,873. The stock has a market capitalization of $134.66 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.32 and a beta of 0.57. The stock's 50 day simple moving average is $106.92 and its 200 day simple moving average is $108.79. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Wall Street Analyst Weigh In

Several equities analysts have commented on PDD shares. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. lowered their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research report on Wednesday. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday. China Renaissance reissued a "hold" rating and set a $107.00 target price on shares of PDD in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $112.00 target price on shares of PDD in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $144.55.

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.