PDD Holdings Inc. (NASDAQ:PDD) is E Fund Management Co. Ltd.’s Largest Position

E Fund Management Co. Ltd. reduced its position in PDD Holdings Inc. (NASDAQ:PDD) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,276,861 shares of the company’s stock after selling 387,111 shares during the period. PDD comprises approximately 20.8% of E Fund Management Co. Ltd.’s holdings, making the stock its biggest holding. E Fund Management Co. Ltd. owned 0.31% of PDD worth $414,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Prospera Private Wealth LLC acquired a new position in shares of PDD in the 3rd quarter valued at $27,000. Venturi Wealth Management LLC acquired a new position in PDD in the 3rd quarter worth $29,000. Nisa Investment Advisors LLC acquired a new position in PDD in the 4th quarter worth $39,000. Avior Wealth Management LLC lifted its holdings in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock worth $68,000 after buying an additional 169 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after buying an additional 405 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PDD has been the topic of a number of recent analyst reports. Benchmark cut their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Jefferies Financial Group dropped their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Price Performance

Shares of PDD stock opened at $120.21 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50-day simple moving average is $109.79 and its 200-day simple moving average is $112.72. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The firm has a market cap of $165.39 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.

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.