ANTIPODES PARTNERS Ltd Sells 332,121 Shares of PDD Holdings Inc. (NASDAQ:PDD)

ANTIPODES PARTNERS Ltd cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 71.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 135,379 shares of the company’s stock after selling 332,121 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in PDD were worth $13,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in PDD during the third quarter valued at approximately $27,000. Venturi Wealth Management LLC purchased a new position in PDD during the third quarter valued at approximately $29,000. Nisa Investment Advisors LLC purchased a new position in PDD during the fourth quarter valued at approximately $39,000. Brooklyn Investment Group lifted its holdings in PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after purchasing an additional 405 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in PDD by 939.6% during the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

PDD Trading Down 0.1 %

Shares of PDD opened at $117.86 on Thursday. The company has a market cap of $162.16 billion, a P/E ratio of 11.51, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The company’s fifty day simple moving average is $111.92 and its 200-day simple moving average is $111.76. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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.