PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Tairen Capital Ltd

Tairen Capital Ltd cut its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 87.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 712,134 shares of the company's stock after selling 4,803,243 shares during the period. PDD accounts for about 10.2% of Tairen Capital Ltd's portfolio, making the stock its 2nd largest position. Tairen Capital Ltd owned about 0.05% of PDD worth $69,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PDD. Baillie Gifford & Co. raised its position in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after buying an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. raised its position in PDD by 0.9% during the 4th 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 during the last quarter. FMR LLC raised its position in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. Norges Bank purchased a new position in PDD during the 4th quarter worth approximately $812,246,000. Finally, FIL Ltd raised its position in PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after buying an additional 3,350,627 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group cut their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura reiterated a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. Finally, Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and boosted their target price for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $174.00.

PDD Price Performance

Shares of NASDAQ PDD opened at $117.61 on Friday. The firm has a market cap of $163.73 billion, a PE ratio of 11.49, a PEG ratio of 0.32 and a beta of 0.57. The firm has a fifty day moving average of $109.83 and a 200 day moving average of $109.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a one year low of $87.11 and a one year high of $164.69.

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.

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