Jennison Associates LLC Sells 5,909 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Jennison Associates LLC decreased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,803 shares of the company's stock after selling 5,909 shares during the period. Jennison Associates LLC's holdings in PDD were worth $26,453,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SRS Capital Advisors Inc. lifted its stake in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after purchasing an additional 209 shares during the period. Turim 21 Investimentos Ltda. purchased a new stake in shares of PDD during the 3rd quarter worth approximately $55,000. CWM LLC grew its holdings in shares of PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company's stock worth $74,000 after acquiring an additional 140 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in PDD in the 4th quarter valued at approximately $144,000. Finally, Wealth Alliance acquired a new position in PDD during the fourth quarter worth $209,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

PDD Stock Performance

Shares of PDD stock traded down $1.76 during trading on Thursday, hitting $125.79. 7,754,536 shares of the stock were exchanged, compared to its average volume of 8,396,209. The stock has a market cap of $165.99 billion, a PE ratio of 21.95, a P/E/G ratio of 0.33 and a beta of 0.67. The stock's fifty day moving average is $121.86 and its 200 day moving average is $126.40. PDD Holdings Inc. has a 12 month low of $59.67 and a 12 month high of $152.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93.

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

Analyst Ratings Changes

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

PDD 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.