Wellington Management Group LLP Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Wellington Management Group LLP lessened its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 788,510 shares of the company’s stock after selling 99,928 shares during the quarter. Wellington Management Group LLP owned 0.06% of PDD worth $76,478,000 at the end of the most recent reporting period.

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

PDD Price Performance

Shares of PDD stock opened at $104.21 on Friday. 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. The business has a 50 day simple moving average of $119.14 and a two-hundred day simple moving average of $114.88. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analysts Set New Price Targets

Several equities research analysts have commented on PDD shares. Benchmark restated a “buy” rating and issued a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. JPMorgan Chase & Co. increased 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. Nomura Securities cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Finally, Jefferies Financial Group dropped their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Five 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. Based on data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

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.