UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 12,245,862 Shares of PDD Holdings Inc. (NASDAQ:PDD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 93.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 899,349 shares of the company's stock after selling 12,245,862 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of PDD worth $87,228,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PDD. Nisa Investment Advisors LLC acquired a new position in PDD in the 4th quarter valued at approximately $39,000. Global Retirement Partners LLC boosted its stake in shares of PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after purchasing an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 249 shares during the period. Finally, Stephens Consulting LLC acquired a new stake in PDD during the 4th quarter worth approximately $97,000. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Performance

PDD traded down $2.16 during trading hours on Friday, hitting $96.13. The stock had a trading volume of 8,993,210 shares, compared to its average volume of 11,057,146. The company's fifty day simple moving average is $107.49 and its 200 day simple moving average is $108.91. PDD Holdings Inc. has a 1 year low of $87.11 and a 1 year high of $155.67. The stock has a market cap of $133.82 billion, a PE ratio of 9.46, 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. China Renaissance restated a "hold" rating and set a $107.00 target price on shares of PDD in a report on Wednesday. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the company a "buy" rating in a research report on Tuesday. Macquarie reissued an "outperform" rating on shares of PDD in a research report on Tuesday. Finally, Nomura reissued a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.55.

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.