PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,161 shares of the company’s stock after selling 91,444 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PDD were worth $56,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after buying an additional 97 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after acquiring an additional 132 shares during the period. New York Life Investment Management LLC raised its holdings in shares of PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after purchasing an additional 139 shares during the last quarter. Cibc World Markets Corp boosted its holdings in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock valued at $1,435,000 after purchasing an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

Shares of PDD stock opened at $104.21 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The business has a 50 day simple moving average of $119.14 and a two-hundred day simple moving average of $114.99. The stock has a market capitalization of $143.38 billion, a P/E ratio of 10.18, a PEG ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

Wall Street Analysts Forecast Growth

PDD has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Citigroup restated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday, March 21st. Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Finally, Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.