Migdal Insurance & Financial Holdings Ltd. Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Migdal Insurance & Financial Holdings Ltd. lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 86.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,220 shares of the company's stock after selling 7,780 shares during the period. Migdal Insurance & Financial Holdings Ltd.'s holdings in PDD were worth $177,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SC US Ttgp LTD. grew its holdings in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company's stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of PDD by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company's stock worth $5,553,962,000 after acquiring an additional 2,292,068 shares during the period. Vanguard Group Inc. boosted its holdings in shares of PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company's stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the period. FMR LLC boosted its holdings in shares of PDD by 32.6% during the third quarter. FMR LLC now owns 17,635,104 shares of the company's stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of PDD by 5.4% during the third quarter. Invesco Ltd. now owns 7,349,430 shares of the company's stock worth $720,759,000 after acquiring an additional 376,947 shares during the period. 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. Benchmark boosted their price objective on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Citigroup boosted their price objective on PDD from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Jefferies Financial Group boosted their price objective on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Barclays boosted their price objective on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded shares of 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.85.

PDD Price Performance

PDD traded down $0.21 during trading on Friday, hitting $113.49. 9,401,697 shares of the stock traded hands, compared to its average volume of 8,250,957. PDD Holdings Inc. has a twelve month low of $59.67 and a twelve month high of $152.99. The company has a market cap of $149.76 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 0.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The business has a 50 day moving average price of $122.59 and a 200 day moving average price of $125.57.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. Equities research analysts forecast that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.

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.