PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. lowered its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 25.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,874 shares of the company's stock after selling 21,241 shares during the quarter. Thornburg Investment Management Inc.'s holdings in PDD were worth $6,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PDD. Nisa Investment Advisors LLC acquired a new position in shares of PDD during the 4th quarter worth about $39,000. Brooklyn Investment Group increased its position in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the last quarter. Global Retirement Partners LLC raised its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after buying an additional 498 shares during the period. Farther Finance Advisors LLC lifted its position in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after buying an additional 132 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares during the period. Institutional investors own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

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

PDD Trading Up 3.1%

Shares of PDD stock traded up $3.60 on Thursday, hitting $119.80. The stock had a trading volume of 6,133,503 shares, compared to its average volume of 11,049,789. The company's 50 day moving average price is $109.69 and its 200-day moving average price is $109.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $164.69. The firm has a market capitalization of $166.78 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.32 and a beta of 0.57.

About PDD

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.