Franklin Resources Inc. Has $45.50 Million Stake in PDD Holdings Inc. (NASDAQ:PDD)

Franklin Resources Inc. cut its stake in PDD Holdings Inc. (NASDAQ:PDD) by 20.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 469,091 shares of the company’s stock after selling 123,257 shares during the quarter. Franklin Resources Inc.’s holdings in PDD were worth $45,497,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PDD. Nisa Investment Advisors LLC bought a new stake in PDD in the 4th quarter worth about $39,000. Brooklyn Investment Group grew its holdings in shares of PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock valued at $51,000 after acquiring an additional 405 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of 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 acquiring an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% during 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. Finally, EverSource Wealth Advisors LLC boosted its position in PDD by 43.2% in the fourth 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 last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday, March 20th. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price target on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Benchmark reiterated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Finally, Nomura reissued a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Down 8.3 %

Shares of NASDAQ PDD opened at $104.21 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market cap of $143.38 billion, a P/E ratio of 10.18, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69. The business has a 50-day simple moving average of $119.14 and a two-hundred day simple moving average of $114.88.

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.