Bridgewater Associates LP Sells 4,962 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Bridgewater Associates LP lessened its stake in PDD Holdings Inc. (NASDAQ:PDD) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,246,898 shares of the company’s stock after selling 4,962 shares during the quarter. Bridgewater Associates LP owned approximately 0.09% of PDD worth $120,937,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of PDD during the fourth quarter valued at about $812,246,000. Sanders Capital LLC purchased a new stake in PDD in the 4th quarter valued at about $499,972,000. FMR LLC lifted its position in shares of 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 buying an additional 4,673,022 shares in the last quarter. FIL Ltd boosted its stake in shares of PDD by 72.4% in the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after buying an additional 3,350,627 shares during the last quarter. Finally, Baillie Gifford & Co. grew its holdings in shares of PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after acquiring an additional 1,942,891 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

PDD stock opened at $94.78 on Tuesday. PDD Holdings Inc. has a 1-year low of $87.11 and a 1-year high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $130.41 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. The firm’s 50 day simple moving average is $116.30 and its 200 day simple moving average is $113.99.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group dropped their price target on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $169.91.

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.