Wellington Management Group LLP Sells 99,928 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Wellington Management Group LLP reduced its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 788,510 shares of the company's stock after selling 99,928 shares during the period. Wellington Management Group LLP owned about 0.06% of PDD worth $76,478,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. increased its position in shares of PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PDD by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company's stock worth $2,779,986,000 after acquiring an additional 268,662 shares during the period. FMR LLC increased 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 purchasing an additional 4,673,022 shares during the period. Norges Bank acquired a new stake in PDD in the fourth quarter valued at $812,246,000. Finally, FIL Ltd lifted its stake in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company's stock valued at $773,847,000 after purchasing an additional 3,350,627 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PDD. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Barclays restated an "equal weight" rating on shares of PDD in a research report on Sunday. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Macquarie reiterated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Finally, China Renaissance reissued a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

PDD Stock Performance

Shares of NASDAQ:PDD traded down $0.54 during midday trading on Monday, hitting $95.97. The company's stock had a trading volume of 3,516,542 shares, compared to its average volume of 11,078,728. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock's 50 day simple moving average is $106.92 and its 200 day simple moving average is $108.73. The stock has a market capitalization of $133.61 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.32 and a beta of 0.57. PDD Holdings Inc. has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

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.