PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Stock Holdings Decreased by Matthews International Capital Management LLC

Matthews International Capital Management LLC lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 632,426 shares of the company's stock after selling 35,528 shares during the period. PDD accounts for 15.5% of Matthews International Capital Management LLC's investment portfolio, making the stock its largest position. Matthews International Capital Management LLC's holdings in PDD were worth $74,848,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in PDD. Renaissance Technologies LLC increased its stake in PDD by 56.3% during the fourth quarter. Renaissance Technologies LLC now owns 947,500 shares of the company's stock worth $91,898,000 after acquiring an additional 341,300 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of PDD during the 4th quarter worth $4,685,000. Alberta Investment Management Corp grew its holdings in shares of PDD by 12.6% during the 4th quarter. Alberta Investment Management Corp now owns 190,060 shares of the company's stock worth $18,434,000 after purchasing an additional 21,302 shares during the period. Myriad Asset Management US LP acquired a new stake in shares of PDD during the 1st quarter worth about $4,496,000. Finally, FMR LLC raised its holdings in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD stock traded down $0.28 during trading hours on Thursday, hitting $102.25. The stock had a trading volume of 4,368,942 shares, compared to its average volume of 11,057,547. The firm has a market capitalization of $142.35 billion, a PE ratio of 11.01, a PEG ratio of 1.45 and a beta of 0.42. The stock's 50 day moving average is $104.76 and its 200 day moving average is $108.26. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PDD. JPMorgan Chase & Co. dropped their price target 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. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Benchmark cut their price objective on PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, Macquarie restated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Seven investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

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.