Krane Funds Advisors LLC Trims Stake in PDD Holdings Inc. (NASDAQ:PDD)

Krane Funds Advisors LLC decreased its position in PDD Holdings Inc. (NASDAQ:PDD) by 14.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,825,103 shares of the company’s stock after selling 482,997 shares during the quarter. PDD accounts for 11.2% of Krane Funds Advisors LLC’s portfolio, making the stock its largest position. Krane Funds Advisors LLC owned about 0.21% of PDD worth $274,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PDD. Baillie Gifford & Co. boosted its position in PDD by 5.4% during 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. Vanguard Group Inc. boosted its holdings in PDD by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock valued at $2,779,986,000 after acquiring an additional 268,662 shares during the period. FMR LLC grew its position in PDD by 22.3% during the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. Norges Bank purchased a new position in PDD in the 4th quarter worth approximately $812,246,000. Finally, Geode Capital Management LLC increased its stake in PDD by 23.7% in the 4th quarter. Geode Capital Management LLC now owns 5,794,895 shares of the company’s stock worth $559,482,000 after purchasing an additional 1,108,390 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PDD shares. Benchmark restated a “buy” rating and issued a $160.00 target price on shares of PDD in a report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Nomura reaffirmed a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their target price on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Finally, Jefferies Financial Group lowered their price target on PDD from $171.00 to $156.00 and set a “buy” rating for the company 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 given a strong buy rating to the company. According to data from MarketBeat.com, PDD currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Stock Performance

Shares of PDD stock opened at $104.21 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $119.14 and its 200-day moving average price is $115.11. The stock has a market cap of $143.38 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

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.