Ashburton Jersey Ltd Sells 471 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Ashburton Jersey Ltd decreased its holdings in PDD Holdings Inc. (NASDAQ:PDD) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,891 shares of the company’s stock after selling 471 shares during the quarter. Ashburton Jersey Ltd’s holdings in PDD were worth $862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd raised its holdings in PDD by 1,218.9% during the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of PDD by 63.9% during the third quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after buying an additional 14,905 shares during the period. Headwater Capital Co Ltd bought a new position in PDD during the fourth quarter worth $9,699,000. Baillie Gifford & Co. lifted its holdings in PDD by 5.4% in the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in PDD during the fourth quarter valued at $4,685,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective 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 lowered PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Nomura reiterated a “neutral” rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Finally, Benchmark restated a “buy” rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PDD presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD opened at $104.21 on Friday. The firm has a market capitalization 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 stock has a 50 day moving average price of $119.14 and a two-hundred day moving average price of $114.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

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.