IDG China Venture Capital Fund IV Associates L.P. Sells 3,017,145 Shares of PDD Holdings Inc. (NASDAQ:PDD)

IDG China Venture Capital Fund IV Associates L.P. decreased its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 39.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,688,400 shares of the company's stock after selling 3,017,145 shares during the quarter. PDD comprises 98.8% of IDG China Venture Capital Fund IV Associates L.P.'s portfolio, making the stock its biggest holding. IDG China Venture Capital Fund IV Associates L.P. owned about 0.36% of PDD worth $685,960,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company's stock valued at $26,000 after acquiring an additional 331 shares during the period. SRS Capital Advisors Inc. raised its position in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in PDD during the 4th quarter valued at $43,000. Turim 21 Investimentos Ltda. bought a new stake in PDD during the 3rd quarter valued at $55,000. Finally, Wahed Invest LLC bought a new stake in PDD during the 1st quarter valued at $70,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

Analyst Ratings Changes

PDD has been the subject of a number of research analyst reports. Barclays lifted their target price on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Citigroup lifted their target price on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, March 21st. The Goldman Sachs Group lowered PDD from a "buy" rating to a "neutral" rating and set a $136.00 price target for the company. in a research report on Monday, March 11th. Finally, Jefferies Financial Group boosted their price target on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and an average price target of $146.85.

PDD Stock Performance

Shares of PDD traded down $5.63 during mid-day trading on Friday, reaching $115.50. The company had a trading volume of 8,916,844 shares, compared to its average volume of 9,754,205. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The company has a quick ratio of 1.83, a current ratio of 1.93 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $152.41 billion, a P/E ratio of 20.16, a PEG ratio of 0.30 and a beta of 0.67. The stock has a 50 day moving average of $123.54 and a two-hundred day moving average of $125.50.

PDD (NASDAQ:PDD - Get Free Report) last issued its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The firm had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. On average, analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.